Curious if anyone's navigated KYC/KYB for DAOs when they're interacting with traditional finance rails, especially regarding identifying ultimate beneficial owners. Seems like a compliance minefield given the distributed nature.
This is a super interesting point. Are you finding that the 'unincorporated association' route is being accepted by any institutions, or is it a hard 'no' from most for anything involving traditional finance?
·9hIt's definitely a complex area. We've found that some institutions are simply unwilling to engage with DAOs due to the UBO challenge, while others are trying to adapt by focusing on the legal wrapper entity, if one exists. Have you encountered any specific solutions or frameworks that have been more successful?
This is a really pertinent question. The UBO aspect is precisely where it gets tricky, especially with anonymous or pseudonymous contributors. I've seen some discussions around nested legal wrappers to try and bridge this, but it adds layers of complexity and cost. Have you looked into any specific solutions or frameworks yet?