BlockStand.eu’s Post

The "wrapped" real estate in the project "Real Estate Network on the Blockchain" is a key legal aspect often questioned or claimed to be impossible. The first and foremost rule in project development is to comply with the laws of various jurisdictions. The project includes different chains for "wrapped" real estate, taking into account various jurisdictions but with a unified standard for the final solution. The main legal solution in the project is the concept of Trust, which can be implemented in common-law countries. In countries with civil law, transferring property rights to real estate via Trust is not possible, so the concept of DAO will be used. It is important to note that in several countries, we cannot exclude the need to consult a notary before transitioning to a fully on-chain mode.

Over the last year Blockchain Lawyers Group has grown significantly with more than 100 experienced blockchain lawyers spread in 60+ jurisdictions 🌍👩⚖️👨🏽⚖️ The enhanced complexity of the operations required a change in the governance structure of the association in order to ensure global representation and variety of opinions. 🚨 We are therefore pleased to announce the formation of the BLG Policy Board. The first appointed members are: Aléksa Mil 🇷🇸 Alexandru Stanescu 🇷🇴 Andreas Glarner🇨🇭 Anuradha Chowdhary 🇮🇳 Arnaud Touati 🇫🇷 Eric Hess 🇺🇸 Francesco Paolo Patti 🇮🇹 Jarosław Nowacki 🇵🇱 Jonathan Galea 🇲🇹 Miguel Dinis Lucas 🇵🇹 Stéphane Daniel 🇫🇷 Stephen Kelly 🇺🇸 The Policy Board will provide strategic guidance and organizational oversight to the activities of the association in the following areas: - events; - education; - social media; - code of conduct; - policy & legal reform; - partnership; - membership acquisition. Congratulations to the appointed members and good work! #blockchain #crypto #legal #web3

In the Q protocol, many safeguards exist. For example, any governance decision that has substantial protocol effects is subject to an objection period. Only a specific group of stakeholders is allowed to object and only if it is against the Q Constitution. This ensures that any decision that may be harmful to the protocol is thoroughly evaluated and avoids that decisions are implemented due to a lack of transparency. The Q Constitution is the fundamental rulebook of the Q protocol. It is written as a private contract, which is an important aspect to understand. In addition to validators, the Q protocol also has a distinct set of independent full nodes called root nodes. These entities are publicly known and can only be elected as root nodes after revealing their identity and receiving votes from Q token holders. This also gives the ability to initiate a private arbitration process in specific situations. Q’s dispute resolution process has integrated with the International Chamber of Commerce (ICC). They offer private arbitration as a service. This allows for the resolution of on-chain disputes through an off-chain private arbitration court. The enforcement of this process is possible via Q’s root nodes, which are publicly known entities. Not only does this ensure that root nodes are accountable, but also provides a counterbalance to the per default pseudo anonymous protocol’s validators, which are responsible for processing transactions. #Governance #blockchain #crypto Q.org

In Decentralized Finance (DeFi), which law is governing the entities, which the transactions? Today, I had the pleasure to address these questions at a conference on Digital Assets and Private International Law at the Universität Wien. In a panel chaired by Gérardine Goh Escolar 吴美姗, Matthias Haentjens, Fabio Andreotti, Augustin Gridel and I discussed the law applicable to blockchain transactions more generally. Many thanks to the EBI - European Banking Institute, the Interdisciplinary Association of Comparative and Private International Law, Matthias Lehmann and its Chair for organizing this fascinating conference!

Now happening: As an adjacent event to the second working meeting of the #HCCH Digital Tokens project, today the Permanent Bureau is holding the Technical Roundtable on Real World Use Cases of Tokens. Presentations are being heard from - Anne-Grace Kleczewski on decentralisation and non-localisation in the context of Bitcoin - Mats Stengård on Enigio’s work in managing digital original documents - Aaron Walsh and Leonardo Paradiso from Knowledge Foundation on the use of blockchain and AI to bridge education, skills and tech gaps globally and - Pascal Favrod-Coune on governance tokens. These informative presentations and the discussions that they trigger will be invaluable to the PB as we prepare the documents for our governing body’s decision on the feasibility and desirability of establishing an Experts’ Group to study the private international law implications arising from digital tokens. The PB thanks the presenters of today’s Technical Roundtable for their insight and engagement. HCCH - Hague Conference on Private International Law #privateinternationallaw #digitaleconomy #digitaltokens #digitaltransformation #digitaltransactions #law #innovation

US Congress Members Seek Transparency in Prometheum's SPBD Approval Process According to Odaily, members of the United States Congress have requested non-public communications and records related to the application and approval process of Prometheum's Special Purpose Broker-Dealer (SPBD). The lawmakers have expressed dissatisfaction with the Securities and Exchange Commission's (SEC) response to the classification of Ethereum (ETH) and Prometheum's intention to custody ETH, which was issued on March 26. They have set a deadline of June 5 for a response. Prometheum received SPBD approval from the Financial Industry Regulatory Authority (FINRA) in May 2023 and launched its custody service for ETH as a security on May 17. The company's CEO, Aaron Kaplan, has sparked controversy in the crypto industry by advocating for the regulation of cryptocurrencies under existing securities laws. In June, the Blockchain Association submitted a Freedom of Information Act request, questioning the transparency of the approval process. This move by the association indicates a growing demand for clarity and transparency in the regulatory processes surrounding cryptocurrency and related services. #SPBD #FINRA #SEC #ETF #DeFi #Metaverse #crypto #compliance #news #virtualcurrency #law #USA #India #Tokenization #ETH Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.

🚨In the implementation of #MiCA, the envisioned 18-month transition period is not commonly practiced by Member States in the EU. 👉🏼Instead, Member States have typically adopted shorter durations of either 6 or 12 months in their national implementing acts. However, this may result in services not being provided across the entire EU single market due to the limitations of the grandfathering clause as per #ESMA's explanations. 👉🏼Without explicit full authorization to leverage the EU passportization mechanism under #MiCAR, this access is restricted in other EU States then, and limited to the home MS where the #VASP registration was procured for #AML/CFT purposes. European Securities and Markets Authority (ESMA) provided clarification on this matter regarding the grandfathering clause and transition period through a Q&A document earlier this year. 👨🏼⚖️If you are a hurried #CASP, I have several methods for you to operate in the EU in lack of full authorization based on your situation. Feel free to directly reach out or to Sali Blockchain & Crypto Regulations. 🚨After 5 years of devoted regulatory work towards #crypto, MiCA entered into force on 30 December 2024. As a token issuer or #cryptoexchnage, you need legal advisory and/or a full license. There's no other way unless... #MiCALicense #MiCALawyer #MiCABlockchain #BlockchainLawyer #CryptoLawyer #CryptoLicense #CryptoLaw

New Book: #Cryptolawgy Vol. 2 Attention: The world of crypto and blockchain is evolving rapidly. Stay ahead of the curve with the latest insights. I'm excited to announce that Roland Amoussou will be releasing his new book on Cryptolawgy Vol. 2 in just 7 days! As an international arbitration counsel and arbitrator with a focus on Thailand and the Asia-Pacific region, I've seen firsthand how crypto and blockchain are disrupting businesses and legal frameworks. In this new book, He dives deep into the most important crypto and blockchain law developments from the past year, in which he has analysed new regulations, court cases, trends and more from across the globe. Whether you're an entrepreneur, investor, lawyer or just fascinated by this emerging tech, Cryptolawgy Vol. 2 is a must-read to stay up-to-date. Pre-order your copy today to get it as soon as it's released! Cryptolawgy Vol. 2 will give you an invaluable edge in navigating the fast-changing crypto and blockchain legal landscape. Don't get left behind - pre-order now and lock in all these crucial insights! Let me know if you have any other questions! I look forward to getting Cryptolawgy Vol. 2 into your hands soon.

CRC-0323: Native RWAs! Everything you need to know, simplified. The CRC-0323 standard on Circular simplifies the tokenization of real-world assets (RWAs), eliminating the need for complex functionalities and smart contracts (SCs) for basic transactions. Here’s what sets the CRC-0323 standard apart: ✅ Associated URL: Each token must have a URL linking directly to legal documentation, creating a clear connection between the digital token and its physical counterpart. This documentation is crucial for verifying ownership and the authenticity of the RWA. ✅ Simplified Tokenization: Designed to embed essential functionalities into the system natively, making the process straightforward. ➡️ Legal Linkage: Establishes a legal bridge that is vital in verifying ownership and authenticity. ➡️ Smart Contracts (SC): For operations that exceed native capabilities, developers may need to employ smart contracts. 💡 This standard shares many similarities with other token standards on Circular but emphasizes ease and legal clarity for RWAs. To learn more: https://lnkd.in/gabB7B2a ➡ Our mission remains: Reshaping trust in critical industries. Follow us: Circular Protocol The Founder: Gianluca De Novi, PhD Stay tuned for updates and airdrops. #tokenization #web3 #blockchain #CIRX #PoR #circularprotocol

How can #digital_assets like #Bitcoin be seized by enforcement authorities? Why are there relatively few #blockchain nodes in Africa? Will #central_bank_digital_currencies use #distributed_technology? These are just some of the questions I got during my two presentations at the Asian Academy of International Law in Hong Kong. I had a truly engaging discussion with the students, who had many fascinating ideas. Clearly, we are now beyond the early days of blockchain & the #law.