OAX Project Q4 Roadmap Update — Legal and Regulatory Stream

  • Corporate structure and governance for the Foundation itself, which should not be an operator of the platform; rather it’s focus is to produce the technology, ecosystem, and legal framework to allow other entities to operate and participate with the platform in a safe and legal manner
  • Structure and governance for a supporting organisation that -may- operate some aspects of the platform, including but not limited to official positions on security and underlying blockchain structural matters, and facilitation of dispute resolution. Formation of an association has been one proposed model.
  • A governance model for the decentralised platform itself
  • A high level legal framework to support the participation in the platform and eco-system; particularly:
  • Detailed legal positioning on a per jurisdiction basis in support of the foundation itself, and early adopters and service providers to the platform
  • Regulator and government engagement as needed and/ or suitable
  • Very few groups are focussed on integration with traditional financial services and regulations; however there is a strong desire across the industry to have gateways and tokenised fiat currency support with a legal framework
  • Most jurisdictions are expecting regulatory changes related to exchanges and gateways holding customer moneys; but few industry groups have significal legal projects underway to understand and position for the implications
  • There are many “digital asset only” decentralised exchange protocol projects underway, significant innovation is occurring in this space, however:
  • Delivery of a technical and legal framework for compliance friendly fiat tokens
  • Structure of the platform and foundation corporate governance and operating model
  • Critical mass ecosystem building of industry partners and community
  • Corporate and governance design for the foundation with PWC assistance
  • Overall operating model and governance design for the working group, platform, and potential association or other related organisations
  • Global positioning papers on custom moneys, money services, and if relevant, securities laws
  • Deep dive into relevant jurisdictions for early adopters and working group members

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OAX

OAX

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OAX is a new, decentralized, digital asset ecosystem initiative run by the “The OAX Foundation Limited”. Go to http://www.oax.org to learn more.