HMT Regulatory Proposal Response

Proposals
1

HMT Regulatory Proposal Response

  • Core team: 1-2 senior UK attorney(s) with a broad understanding of DeFi and attendant issues (Manager) that can provide higher level oversight and 2-3 more junior (midlevel) attorneys to help write this up.*
  • Research Aides: Open for applications for volunteers to help the core team.

*Given the budget, the team is going to be small but any and all volunteers are welcome to apply as well.

Summary (TLDR/Overview):

  • The UK HMT has published a consultation on regulating crypto (available here) and there is a period for public comment
  • The goal is to put forth sensible suggestions regarding a subset of topics that are closely aligned with LeXpunK’s mission (ie. DeFI and how to onboard validation activities (confirming they are not a CIS etc and confirming decent tax treatment)).
  • The work product will be submitted as a response to HMT and we will announce a TLDR of our response on Twitter.

Bounty

Budget for this work would be $12.5k. Expected lift is 2-3 calls to discuss overall policy view with the working group (or could be broader UK telegram group) and then the Manager leading about 10-20 hours worth of writing.

Motivation

The rationale for this proposal is motivated by the following objectives: We want to put forth comments that are targeted, thoughtful and built out for the real possibility that HMT would take these very seriously. These comments should be aligned with LeXpunK and its mission with focus on the areas that are most protective of builders in the space.

Specification

Response with 2-9 pages of focused and clear discussion plus answers to each question. Discuss potentially narrowed focus on only a few questions where there would be less coverage from other respondents AND the focus should be based on LeXpunK’s mission and priorities

Potentially the most value could be added re: the crypto sales to retail disclosures issues and DeFi vs. custody and the various promotions regimes etc, which likely will be adequately answered by other respondents

Process:

  • Complete Staffing
  • Set up Coordinape Gift Circle with Core Team
  • Manager to schedule and hold kick-off call with team, set up work space and intake process for research request

Staffing/Volunteer Process:

If you are interested in helping as a volunteer, we will need the following (the Manager(s) will review):

  • Proposal(s) of interest: Indicate “HMT Regulatory Proposal Response”
  • The link to your disclosure on GitHub
  • Skill set/credentials (sell yourself/ narrative (years in practice etc) and links to professional profile)
  • ETH Address
  • Other comments (conflicts/other affiliations, anything else you would like to add)

Time commitment pledge + attestation:

  • Work will be new/original/ not owned by anyone else etc

Please do not take on work that you cannot complete in the required time frame

By submitting your application, you acknowledge and understand that any work product/deliverables will be open sourced by LeXpunK and credit attributed to our core DAOs for sponsoring the work (we will also list and thank working group contributors by twitter handle unless you choose to opt out).

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