Discovery "Crypto Lawyer Fund" (linked)Back

Title: Crypto Lawyer Fund
Owner: abettorpin
Created: 2018-07-27
Proposal link: CryptoLawyerFund

Description

As many of you know, there has been quite a bit of effort in pulling together a business/ angel  investment proposal for the Foundation so that our main two guys can get funded to "go full-time"(Clock/ Sin).

One hurdle we're running up against is our federal entity status, which we are working to get filed with the IRS. We also need to have this nailed down for new exchange listings, as scrutiny is being increased by regulatory bodies.

We have engaged multiple lawyers in these discussions and are still in the negotation phase, but one thing we know we will need regardless of how this process proceeds, is to pay the lawyer(s).

Ideally we have anywhere from 15k-20k TRC on hand for a legitimate crypto lawyer who is willing to accept crypto for their services (of which we are engaging with at the present time).

I am therefore requesting that we set aside the remaining portion of the current superblock (4,560 TRC) for this fund.

Please comment with any questions. I'd like to get this proposal in over the next day or so.

Thank you all for your patience, best rest assured that the efforts are moving full-steam ahead. 


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Discussion

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0 points, ~9 months ago
I'm fully support this path as the foundation is doing good. As a long term terracoin community member, I'm very interested to learn about the items or detail about the lawful file work. Hope you can share (some) with us. I'm concerned about how US government regulate such organization and how it will influence or even limit the community from the whole world. I really don't want to see Terracoin's development and initial goal is harmed.
Anyway, thanks for your hard work.
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0 points, ~9 months ago
Hey Hanzac, thank you for your support.

Regarding sharing any specifics, we're looking at the various options available for securing a non-profit, or not-for-profit status. Most 501s are not applicable, and the few that might be, each have their pro's and cons. We're making sure to do all our due dilligence in vetting each option to make sure the Foundation becomes as bullet-proof as possible regarding pursuing the philanthropic ends we all believe in, without hindering members of the Foundation, or the Foundation's future.

It's a bit complicated because very, very few projects have pulled off having non-profit status (only one that we know of), and getting someone who understands both crypto and the legalise has not been easy.

We are definetly not rushing it, because getting it right the first time is of the highest priority. Once we have it nailed down, we will be thrilled to share the direction that fits best the Foundation, and the future of Terracoin.
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0 points, ~9 months ago
Looking forward for that. ;-)
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0 points, ~9 months ago
100% behind this proposal and the efforts behind the initiative.

Only thing to suggest is adding a line in the proposal that says if the TRC isn't needed, it will be sent to the Terracoin Foundation Masternode Donations address.
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0 points, ~9 months ago
Thank you for your support. I appreciate it!
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