Regulatory Compliance

Panther DAO
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Hey guys…opening this topic for the team to share how they are ensuring regulatory compliance for both the Advanced staking as well as Panther Core! Team kindly comment

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From the Team:

When Panther started there was no VASP license or regulatory pressure on DAOs.

Then Gibraltar legislation made it impossible to launch the protocol from there, which is where Panther Ventures and the Foundation are setup.

So we looked at UAE, and then saw they have draft VASP legislation which is outright repressive for anything privacy related, so the subsidiary setup there had to be wound down.

And then we were looking at BVI, but they’ve just introduced VASP legislation. When we say the legal compliance landscape is challenging it’s not rhetoric.

We are evaluating ways to launch the dApp and host the front end.

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Thank you. Communication is key here.

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Can El Salvador be a country convenient for launching a panther?

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I wonder if there is any update on this topic yet? @Team?

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So far it’s just us here Buddy…I only see Zork and Mike sending a message or 2 for namesake…I really don’t see why this forum is necessary :man_facepalming:t2::man_shrugging:t2:

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You are right :slight_smile: I will ask Joris

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After advance staking users will come in masses, let’s see how will the participation will fluctuate after Ad staking debut.

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We will host an AMA session with both of Panther’s Co-Founders to discuss everything regarding Legal/Compliance. Will keep you posted.

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Is good topic!

I am going to think about this and V1.0 launch

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We could think that some KYC usecases when accessing the protocol in order to prevent malicious funds entering the Panther ecosystem like what happened with Railgun and Tornado.

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Yes like article: https://www.cnbc.com/2023/01/24/north-korea-linked-hackers-behind-100-million-crypto-heist-fbi-says.html#:~:text=different%20blockchain%20networks.-,The%20FBI%20also%20said%20that%20the%20North%20Korean%20cyber%20actors,anonymity%20of%20people%20moving%20cryptocurrency.

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Hi everyone ! As you all know, the core idea of Panther is to innovate in the space of Privacy, Compliance and DeFi access. And this needs to be done in such a way that safeguards the protocol and its users. The Compliance officer is closely monitoring the progress in this space in the EU and USA and making suggestions that best fits the product, its use and protects its users from interacting with bad actors.
The overarching goal being; compliant way of accessing privacy for crypto assets in the eyes of multiple jurisdictional regulations.
Broad areas that are covered are :

  • KYC
  • ML Risks
  • Sanctions Risks
  • Travel Rule ( FATF/MICA)
  • Suspicious Transactions Rule

Good news is that there are few ways to handle this in the Web3 space which has been mentioned by Vitalik and few papers have been published in this space

Panther is implementing few of the feature on the same line as stated in the paper above but also adding its own innovation to the solution. I will mention the solutions being architected in the next message ( until now, enjoy reading the paper) and feel free to provide feedback and suggestions.

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It might be interesting to figure out, if not done already, which compliance De-Fi project can help Panther protocol.

Any ideas which Web3 projects works on the areas mentioned here?

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should be a protocol that helps panther with regulatory compliance but still achieving crypto privacy like in article.

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Continuing with the above topic and following up;
We are in the process of discussion and at the end will provide a comparative analysis of multiple compliance vendors (like KYC providers and on-chain wallet screening ) based on criteria set for what is needed by Protocol to work in a decentralized DAO framework. In addition to general criteria like Reputable vendor, low risk, competitive price, tech support etc, there are key technical considerations as well.

  • Protocol level integrations
  • On-chain support for ZK compatible attestations and signatures
  • Fees paid by protocol on-chain in $ZKP

let us know about any Vendors in this space that anyone has worked with and want to recommend? Meanwhile, we will continue this conversation and share our assessment based on this discussion here.

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Thanks @onblock!!

I know few vendor like Blockpass, PureFi and Onfido but do not know which is best for protocol. Decentralisation is important for vendor

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in talks with all three of them.

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A few solutions are mentioned on article: https://cryptoadventure.com/top-5-kyc-solutions-for-crypto-or-nft-projects/

i am not sure which is the mnost suitable for panther protocol since it depends on specific infrastructure and what panther specifically needs. Looking forward to assessment since developers need to decide which vendor is the best!