Ensuring regulatory fairness and treatment towards Dash presented by Ryan Taylor, Dash Core Group CEO.
Business compliance officers and regulators interested in speaking with Dash Core Group and/or requesting our legal opinions on the matter, please reach out to us at [email protected]
Learn more about how legal regulations apply to Dash – https://www.dash.org/regulatory/
Dash is not a security and offers greater transparency and less risk than Bitcoin with regards to privacy.
Dash is Not a Security
The status of Dash as “not a security” has been validated by many entities, most recently the Crypto Rating Council which provided the best possible score of 1.0, equivalent to the score for Bitcoin. The score takes into account various points within the Howey Test to conclude that Dash has few characteristics that are consistent with being a security.
Crypto Rating Council – https://www.cryptoratingcouncil.com/asset-ratings
Dash’s transaction rules are identical to Bitcoin, and therefore for regulatory and compliance purposes, Dash can and should be treated identically to Bitcoin. The following outlines the misconceptions on Dash and its PrivateSend position, and provides evidence-based arguments as to why Dash is in actuality less of a compliance threat than Bitcoin.
Perkins Coie concludes – "Dash is technically no more of a "privacy coin" than Bitcoin". "…the widespread perception that Dash is a "privacy-coin" is likely a legacy of its former "Darkcoin" moniker and does not accurately reflect its actual functionality."
Chainalysis states – "It’s possible to perform mixing transactions that are functionally identical to PrivateSend on other technologically similar cryptocurrencies. This means from a technical standpoint, Dash’s privacy functionality is no greater than Bitcoin’s, making the label of “privacy coin” a misnomer for Dash. In fact, independent wallet softwares provide more advanced forms of CoinJoin that are being used with major cryptocurrencies not labeled as privacy coins, such as Bitcoin, Bitcoin Cash, and Litecoin."
Dash PrivateSend Legal Position: https://media.dash.org/wp-content/uploads/Dash-PrivateSend-Legal-Position-EN.pdf
Dash Core Group’s Response to the Proposed Rule by FinCEN: https://media.dash.org/wp-content/uploads/FinCEN-Unhosted-Wallets-NPR-Response_Dash-Core-Group_Jan-2021.FINAL_.pdf
Dash Core Group in May 2019 took the initiative to conduct “PrivateSend” transactions on the Bitcoin network, and compared them to transactions using Dash. Here are links to the Bitcoin “PrivateSend” transactions:
And here are links to the Dash “PrivateSend” transactions:
Performing a Dash PrivateSend Transaction on Bitcoin
1. Broadcasting Bitcoin Denomination Transactions:
2. Mixing Bitcoin Denominated Transactions:
3. Spending Mixed Bitcoin Denominated Transactions
Dash Complies with the FATF Travel Rule – This document outlines how and why the Travel Rule in no way affects our partners’ abilities to remain compliant with Dash.
FATF Statement: https://blog.dash.org/dash-complies-with-the-financial-action-task-force-fatf-guidelines-including-the-travel-rule-a4c658efc89d
Presentation TimeStamps –
01:44 Executive Summary
03:46 About Dash and Dash Core Group
08:56 Dash Core Group Details
09:44 Dash Core Group Executive Team
10:56 What is Dash?
14:50 How Dash Core Group is Growing Dash
17:38 Dash’s Competitive Advantage: Speed
22:00 Focus on Mainstream and Ease of Use
26:37 Regulatory Compliance
33:45 Dark Web Usage: Dash is Minimally Used
35:13 Dash Privacy Feature-Set Comparison
39:09 Privacy is Non-Binary
42:52 Leading Experts Agree Dash is Not a "Privacy Coin"
45:08 What is a PrivateSend Transaction?
47:30 PrivateSend Overview
49:44 PrivateSend CoinJoin Bitcoin Comparison
52:23 Limitations of PrivateSend / CoinJoin
Dash is Digital Cash. Instant transactions and micro-fees. Any amount, anytime, anywhere. Learn more about Dash at: https://www.dash.org