Legal Jurisdiction

GoraNetwork is incorporated in Switzerland, in the city of Zug, known as Crypto Valley. Switzerland became one of the first countries in the world to enact legal regulations for blockchain technology, creating legal certainty for developers, customers and investors. The integrity of the financial centre makes Switzerland the gold standard among jurisdictions, and cryptocurrencies are subject to the same rules as real monetary assets.

GoraNetwork plans to eventually be a fully decentralized protocol, where the organization has none to little say in the direction of the protocol. However, during the first 1-2 years of operation, the core team will directly affect the direction of the protocol, and as such requires the team to be compliant with local and international regulations, especially regarding the handling of monetary investments.

1 European Commission, Directorate-General for Financial Stability, Financial Services and Capital Markets Union, Decentralized finance : information frictions and public policies : approaching the regulation and supervision of decentralized finance, Publications Office of the European Union, 2022, https://data.europa.eu/doi/10.2874/444494