Founders

legal

First, no legal advice. Second, it depends. Now legalese aside, let’s dive into your questions 👇

1. What defines a centralized vs. decentralized project?

No one really knows. An important SEC official dropped the term “sufficiently decentralized” in a 2018 speech, and ever since, law firms have been using it to sell legal opinions to token issuers.

I do recommend reading this memo on the YFI token launch by a brilliant US lawyer. It dives deep into the concept of decentralization:

https://metalex.substack.com/p/why-yfi-are-not-investment-contracts

Recommend everyone building a crypto product here follows @buzko and joins /legal 

The regulatory landscape is rapidly changing and you need to keep pace with it, check out this helpful thread

building skala.io, partner at buzko.legal

editor [redacted] prev: everyname (acq. Q4 '23)