Modern participatory platform

We advised the operator of the participation platform on the following project:

MODERN PARTICIPATION PLATFORM JOINING CREATORS WITH INVESTORS

For our client, who plans to implement an Internet platform that would allow entities seeking financing to present their business venture projects to third parties and to establish relations with such persons, we performed a comprehensive audit of the planned platform operation model.

The subject of the audit covered many issues due to the modern nature of the platform, which aims to raise funding in the form of virtual currencies and to issue tokens to funders using blockchain technology. In practice, the audit included three categories of the following areas:

1. public law issues, i.e. determining the need for a permit or registration in connection with the planned activity,
2. strictly civil law issues, i.e. classifying the relationship between each stakeholder (operator and platform participants) and consumer protection issues,
3. other issues (protection of personal data, prevention of money laundering and terrorist financing).

The advisory services of DLK Legal included:

• audit of the planned project and analysis in terms of compliance with applicable regulations,
• legal classification of the key mechanisms of operation of the platform, including in particular the issuance of tokens using blockchain technology in connection with funding received in the form of virtual currencies,
• legal opinion including practical recommendations indicating the desired method of shaping the functionality of the platform to ensure its compliance with current regulations.

See also on the DLK websites:
Crowdfunding Act (2021-2022)
MiCA Regulation and DLT Regulation (2020-2023)