kaal:position:2026-07-31-6076

Managing cross-border DeFi DAOs in the EU: legal complexities and regulatory perspectives presents the following source proposition: The chapter emphasizes the need for clarity in defining ‘full decentralization’ to navigate the regulatory landscape effectively. This proposition is pertinent to Kaal's source-bound claim that Because direct ownership on a blockchain removes the need for the Depository Trust Corporation to hold the certificate and for a broker to record beneficial ownership, agency costs can be cut and ownership clarity increases. The proposed response is an extension: the relationship should remain limited to the retrieved source proposition and the mapped Kaal claim unless fuller source review supports a broader conclusion.

• The response is limited to the retrieved source proposition and mapped Kaal claim unless fuller source review supports a broader conclusion.
• External evidence level: abstract indexed.
• Mapping review tier: moderate-confidence claim review.
• Primary mapping confidence: 0.3884.
• The source-to-claim mapping remains explicitly ambiguous and is published with that limitation.

Managing cross-border DeFi DAOs in the EU: legal complexities and regulatory perspectives

kaal:claim:3411110-007
Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110
Source PDF sha256: c7626eeb7642045b79f8745df1f7232a8fe8bc44a1f7e87b592850e35b392b50

Evidence: abstract indexed
Review tier: moderate-confidence claim review
Mapping confidence: 0.3884
Mapping ambiguous: true

corporate-governancedecentralizationdefihistorical-responsescholarly-literatureopenalex

Affirmed in kaal-review:2026-07-31:streaming-etl-0003 on 2026-07-31. Review record.

Canonical markdown sha256: 0fbb2a2d1936ceb247b7734a3942f1bc37051cdd9027c4902aabce5b7c4ff3ce
curl -s https://wulfkaal.github.io/positions/2026-07-31-6076.md | sha256sum