Roman Buzko

@buzko

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Exploring a new feature for Skala.io that allows investment funds to onboard their portfolio companies directly onto the platform. Portfolio companies get predictable solutions for their routine legal tasks, while funds gain insights into their portfolio's legal health (with customizable levels of visibility). How do you like the concept?

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https://warpcast.com/milesjennings/0x534e7abb

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https://warpcast.com/buzko/0x8a645d59

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What are you looking for specifically? We have a guide on crypto jurisdictions coming next week.

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This is actually beyond my circle of expertise. I will withhold my judgment for now, but one specific downside that I am aware of is that no bank in the world will open a bank account for a Prospera company.

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Because it is ridiculously expensive, a lot of compliance, and no specific benefits over offshore foundations. The only reason people still talk about Switzerland when it comes to crypto jurisdictions is that Ethereum was set up there 10 years ago.

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Nowadays, ChatGPT

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Thank you, @roadu! You may also find useful this thread on a broader range of crypto related topics: https://warpcast.com/buzko/0xa04b9c7f

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For the sake of completeness: 🇪🇺 EU — if you really need a MiCA license, I would suggest looking into Ireland, where many crypto blue chips established their presence. 🇸🇬 Singapore is heavily regulated, better go to 🇭🇰 Hong Kong if you are in Asia. 🇦🇪 UAE was deemed crypto friendly; no longer so due to multiple regulations and hesitant banks. But 0% tax rate on personal income makes it an attractive destination for crypto founders nonetheless.

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Just finished updating our internal guide on this topic. Here’s the summary: 🇻🇬 BVI — the go-to jurisdiction for token issuers due to its permissive legal framework. 🇰🇾 Cayman Islands — popular for their flexible Foundation Companies. Suitable mainly for large DAOs. 🇵🇦 Panama — the Wild West of crypto, with zero regulations. Polymarket and many others are based there. Panama also has private foundations similar to Cayman Islands, which are used by DAOs. 🇺🇸 US — ideal for startups not engaged in regulated activities (e.g., blockchain scanners like Dune). Many ‘DevCos’ or ‘LabsCos’ are still based in the US even if they have affiliated offshore structures elsewhere. In the past, the US was a no-go for companies looking to issue tokens. It is starting to change. Wyoming is leading the charge with DAO LLCs and DUNAs.

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For the sake of completeness: 🇪🇺 EU — if you really need a MiCA license, I would suggest looking into Ireland, where many crypto blue chips established their presence. 🇸🇬 Singapore is heavily regulated, better go to 🇭🇰 Hong Kong if you are in Asia. 🇦🇪 UAE was deemed crypto friendly; no longer so due to multiple regulations and hesitant banks. But 0% tax rate on personal income makes it an attractive destination for crypto founders nonetheless.

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Just finished updating our internal guide on this topic. But here’s the summary: 🇻🇬 BVI — the go-to jurisdiction for token issuers due to its permissive legal framework. 🇰🇾 Cayman Islands — popular for their flexible Foundation Companies. Suitable mainly for large DAOs. 🇵🇦 Panama — the Wild West of crypto, with zero regulations. Polymarket and many others are based there. Panama also has private foundations similar to Cayman Islands, which are used by DAOs. 🇺🇸 US — ideal for startups not engaged in regulated activities (e.g., blockchain scanners like Dune). Many ‘DevCos’ or ‘LabsCos’ are still based in the US even if they have affiliated offshore structures elsewhere. In the past, the US was a no-go for companies looking to issue tokens. It is starting to change. Wyoming is leading the charge with DAO LLCs and DUNAs.

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https://warpcast.com/caphillcrypto/0x2df43929

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Lawyering up may help. If a lawyer sends a demand letter on your behalf, it is usually handled by a different support level.

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https://warpcast.com/fund-defi/0xbf610388

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Happy to help with that!

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Weekly update on building the go-to legal platform for startups Skala.io: — Our site went down on Monday, so we had to jump into emergency mode to restore it. — Set up company registration in Texas and Nevada. — Created a dedicated landing page: https://www.skala.io/incorporate-in-nevada-or-texas. — Launched on Product Hunt, but without much success. If you don’t make it to the top 7 (which is at the editors’ discretion), there’s almost no organic traffic or upvotes. — Built filters for selecting a legal entity based on use case and registration costs (this is a really cool feature, but we’re still fine-tuning it). — Working on the design of the admin panel for trademarks. — Ran a few paid promotional posts. — Started working with a marketing advisor—set up internal key metrics and came up with a few growth experiments. Main goal right now is to grow organic traffic to the website by improving SEO. Because Google does not rank very high the new domain name after rebranding.

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Some US-based companies and startups are exploring alternatives to Delaware. Here is how Nevada and Texas compare. Learn more here: https://www.skala.io/incorporate-in-nevada-or-texas.

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Delaware is under fire after its courts struck down Elon Musk’s $55B pay package. Meanwhile, Nevada and Texas are stealing the spotlight as the new go-to corporate HQs. We moved fast at Skala.io and now you can set up a C-corp or LLC in either state with dead-simple workflows. We’re live on Product Hunt today. Smash that upvote like your incorporation depends on it: https://www.producthunt.com/posts/incorporate-in-nevada-or-texas

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