- Jason Somensatto, the Strategic Legal Counsel for the 0x Core Team, says the new resources will enable devs to understand some legal issues related to building on the 0x ecosystem
- Somensatto has also urged the 0x community to send in their questions pertaining to the legal environment for more insight
- The 0x team says it plans to roll out the 0x Legal Wiki & Library shortly
In its bid to ensure developers building decentralized applications on the 0x blockchain network remain on the right side of the law at all times, 0x has unveiled a couple of legal resources to help devs in the ecosystem better understand the legal issues related to building on the 0x protocol, according to a Medium blog post on February 7, 2019.
0x Avoiding Compliance Issues
0x, an open protocol for decentralized exchange powered by the Ethereum smart contracts blockchain, is doing its best to ensure that dApps within its ecosystem operate in accordance with regulation.
Per a Medium blog post by the 0x team, after several months of meeting with independent developers building on 0x, as well as other decentralized finance projects http://defi.network/, Jason Somensatto, Strategic Legal Counsel for the 0x Core Team, has rolled out a couple of resources targeted at making it easier for the 0x ecosystem to understand some of the pertinent legal issues related to building on the 0x protocol.
The 0x Legal Wiki and Library
Per the team, the 0x Legal Wiki and Library is an open source legal reference resource formulated specially to guide developers building projects on the 0x protocol or other financial protocols for that matter.
Specifically, the team says the 0x Legal Wiki summarizes some of the relevant United States regulations that may concern projects running on the 0x protocol.
On the other hand, the 0x Legal Library is made up of links to relevant cases, statements from regulators, as well as commentaries by others in the legal community addressing the application of these guidelines to the cryptocurrency ecosystem.
Importantly, the team has pointed out that unlike most similar legal resources, the 0x Legal Wiki and the 0x Legal Library will be hosted on GitHub, to make it possible for the entire community to easily add relevant contributions and keep it updated at all times.
As reported by Blockchain Reporter in December 2018, 0x launched 0x Instant, a solution that allows site and app owners to add cryptoassets purchasing feature to their systems and earn commissions on all transactions.
At press time, the price of 0x (ZRX) sits at $0.245552, with a market cap of $143.42 million and a 24-hour trading volume of $11.36 million, as seen on CoinMarketCap.