Legal and Regulatory Considerations
📘 Section 9: Legal and Regulatory Considerations
9.1 Legal Structure
Goldragon will be governed by a corporate entity registered in a jurisdiction with favorable regulatory frameworks for cryptocurrency and blockchain-related projects. After careful consideration of various options, Goldragon will be established in the British Virgin Islands (BVI). The BVI offers significant benefits for cryptocurrency businesses, including:
Favorable Tax Regulations: The BVI is a well-known offshore financial center, providing a tax-efficient environment for crypto businesses.
Legal Framework: BVI offers a flexible legal framework, allowing for ease of operations and adaptability in the fast-evolving crypto space.
Data Protection: The BVI adheres to international data protection standards, ensuring the security of user and investor information.
9.2 Compliance with Regulations
Goldragon is committed to ensuring full compliance with all relevant regulations, especially with regard to the RWA token and the online gaming components. Compliance will be monitored and enforced through a comprehensive legal framework that considers regional and international requirements.
Financial Regulations: Goldragon will work with legal advisors to ensure that the tokenomics, RWA integration, and platform operations comply with existing financial regulations in the jurisdictions where it operates.
Anti-Money Laundering (AML): We will implement strict AML protocols to prevent the misuse of the Goldragon platform for money laundering or any illegal activities.
Know Your Customer (KYC): Users participating in staking, the online casino platform, or PVP gaming features will be required to complete KYC checks to ensure compliance with relevant laws.
9.3 Licensing for Online Casino
Goldragon is partnering with the Knights Table online casino platform, which is in the process of obtaining a Curacao Gaming License. While Knights Table has not yet acquired the license, it is progressing toward obtaining it and will operate in full compliance with Curacao’s licensing regulations once granted. This partnership ensures that:
Knights Table License: Knights Table will be operating under a Curacao Gaming License, which is a widely recognized and cost-effective online gaming license, once obtained.
Jurisdictional Compliance: Goldragon will ensure that all actions taken in collaboration with Knights Table are compliant with Curacao's gaming laws and other relevant regional gaming authorities.
9.4 Token Compliance and Securities Laws
Goldragon’s token (GDT) will be designed to comply with existing securities regulations in key markets to avoid any potential issues related to the classification of GDT as a security. Legal consultation will be sought to ensure the following:
Non-Security Token Classification: GDT is structured to function as a utility token with specific use cases in Goldragon’s ecosystem, including staking, RWA integration, and in-game functionalities. Our legal team will ensure that it is not classified as a security.
International Compliance: Given that Goldragon’s ecosystem will operate globally, compliance will be checked with relevant jurisdictions' securities laws, including those of the U.S. Securities and Exchange Commission (SEC), the European Union (EU), and other major markets.
9.5 Intellectual Property (IP) Protection
Goldragon will take the necessary steps to protect its intellectual property, including game mechanics, branding, and proprietary technologies.
Trademark Registration: The Goldragon brand, logo, and related trademarks will be registered in relevant jurisdictions to safeguard brand identity.
Copyright: The code and assets used in game development, including the web-based games and PVP game, will be copyrighted to ensure that the intellectual property is protected from unauthorized use.
9.6 Taxation Considerations
Goldragon’s tax structure will be reviewed regularly by legal and financial advisors to ensure compliance with tax lawsin each jurisdiction where Goldragon or its affiliates operate.
VAT/GST: Tax on goods and services may be applicable depending on the jurisdiction of the user.
Corporate Taxes: While Goldragon will be registered in the BVI, it will comply with the tax obligations in regions where the operations occur and ensure transparency and full tax compliance.
9.7 Data Protection and Privacy
Goldragon will prioritize the protection of user data, ensuring adherence to international data protection laws. A dedicated data protection officer (DPO) will be appointed to oversee compliance with global standards, including:
General Data Protection Regulation (GDPR): Goldragon will follow GDPR guidelines for users in the European Union to ensure personal data protection.
Data Encryption: All user data will be encrypted and securely stored, with access granted only to authorized personnel.
9.8 Dispute Resolution and Arbitration
Goldragon will implement a dispute resolution mechanism in case of legal conflicts, aiming for efficient resolution through arbitration, especially for cross-border disputes. This mechanism will be included in the terms of service and user agreements to ensure clear protocols for resolving conflicts.
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