• © Goverland Inc. 2026
  • v1.0.3
  • Privacy Policy
  • Terms of Use
Bitcoin DAOBitcoin DAOby0xCA43aFFDE32814e274Dc106E8D1Be0F8A7929DDelfgwhale.eth

Proposal to Obtain a Legal Opinion on Whether $BC is a Security

Voting ended almost 3 years agoSucceeded

Most Tier 1 CEX, along with numerous fiat onramps like Transak, require a legal opinion from a US lawyer that a token is not a "security" under US law before a token can be listed.

Sometimes the legal opinion requirement is necessary to list at all. In other instances, the legal opinion is needed so the listing is available to US customers.

Legal Kornet is a company that works with one or more US lawyers to provide these kinds of opinion. According to their website:

"The Legal Opinion prepared by our company Legal Kornet is signed by a licensed U.S. attorney. Our Legal Opinion is accepted by all cryptocurrency exchanges, including Binance — one of the largest international online digital currency exchange services."

You can review their site here: https://legal-kornet.com/services/blockchain-ico-sto-ieo/legal-opinion-howey-test/

The DAO should authorize the expenditure of marketing funds to obtain the legal opinion given that it is a prerequisite to the project's ability to list on high quality Tier 1 CEX and other fiat on/off ramps.

Legal Kornet.png

Off-Chain Vote

Yes - Obtain Legal Opinion
710.71K BC95.3%
No - Do Not Obtain Legal Opinion
35.15K BC4.7%
Download mobile app to vote

Timeline

Feb 17, 2023Proposal created
Feb 17, 2023Proposal vote started
Feb 20, 2023Proposal vote ended
Oct 26, 2023Proposal updated