Legal Council about BTS and No-action

[abit]

What's the difference between this worker and the "201710-compliance" worker? It seems the latter has been voted in now.

[xeroc]

I make a suggestion that two different legal firms work on this, even if it doubles the worker proposal to $700,000

Putting all your eggs in one basket (Paul Hastings LLP) doesn't give the benefit of a second opinion.

Having two legal firms working on the same issue gains the NEW benefit that the best course of action (as determined by the foundation or BTS votes) now becomes possible once you have two different opinions.  You can have each firm review each other's recommendation and get the best answer out of the two.

Since the SEC has federal jurisdiction, I recommend each legal firm being in different states.

Competing legal firms will ultimately give their best resources and attention to the matter.  This is why massive corporations don't just have multiple lawyers around the table, but different firms as well.

https://www.hg.org/article.asp?id=36943

In the end, the legal firm with the best performance and best legal direction would yield more business from Bitshares in the future.

We get second opinions from doctors, car mechanics, etc.. It is not unheard of (and only diligent) to get second opinions from an additional law firm.

Even the Supreme Court has multiple judges for these reasons.

If you are in agreement, please voice your support.

Thank your for your input, I will forward it to the corresponding people that deal with this.
However, I don't see the need to pay twice as much until we have an actual course of action.
It is also that PaulHastings has a very good reputation in the space, it's not that BTS is the only crypto in their customers list. I'll still forward the issue.

What will happen with the leftover funds for this worker? Is this worker in BTS or BitUSD?

I recommend you read through the proposal and the corresponding description of a "budget worker".

[Chris4210]

Thank you BitShares Blockchain Foundation for pushing this matter forward. I will vote for your worker.

Crypto4ever has a good point that a second law firm could be helpful to get a more defined result.

What will happen with the leftover funds for this worker? Is this worker in BTS or BitUSD?

[crypto4ever]

I make a suggestion that two different legal firms work on this, even if it doubles the worker proposal to $700,000

Putting all your eggs in one basket (Paul Hastings LLP) doesn't give the benefit of a second opinion.

Having two legal firms working on the same issue gains the NEW benefit that the best course of action (as determined by the foundation or BTS votes) now becomes possible once you have two different opinions.  You can have each firm review each other's recommendation and get the best answer out of the two.

Since the SEC has federal jurisdiction, I recommend each legal firm being in different states.

Competing legal firms will ultimately give their best resources and attention to the matter.  This is why massive corporations don't just have multiple lawyers around the table, but different firms as well.

https://www.hg.org/article.asp?id=36943

In the end, the legal firm with the best performance and best legal direction would yield more business from Bitshares in the future.

We get second opinions from doctors, car mechanics, etc.. It is not unheard of (and only diligent) to get second opinions from an additional law firm.

Even the Supreme Court has multiple judges for these reasons.

If you are in agreement, please voice your support.

[xeroc]

Something wrong with "Duration   2018/02/15 - 2018/07/30 (12 months)".

Thanks, it was meant to be 6 months.

[abit]

Something wrong with "Duration   2018/02/15 - 2018/07/30 (12 months)".

[Brekyrself]

Thank you for putting this together and running with it.  Lets get this voted in and moving along.

[xeroc]

New Worker Proposal

Proposer: BitShares Blockchain Foundation

About
With this worker, we (the bitshares blockchain foundation) would like to fund this project to seek legal clarity and presentation for BTS holders and regulators.

Throughout the last couple months, we have been repeatedly approach about core aspects of BitShares and its governance token BTS that have been presented publicly in an inaccurate and unfavorable manner. This often resulted in ambiguity and uncertainty that has held back some businesses from working with or on the BitShares Blockchain and could well have been a reason for lack of ecosystem growth throughout the last years.

Additionally to an opinion letter of a prestigious legal council, we also seek a non-action letter by the United States Securities and Exchange Commission (SEC), the prototype for many regulators in the world.

Read more
http://www.bitshares.foundation/worker/budget/2018-02-legal-council-bts