In recently months, there has been a big crackdown and scrutiny surrounding gambling in crypto which has led to many grey areas between cryptocurrency regulation and gambling regulation and the legislation that ties both together. This is a fact in all jurisdictions and finding a fit of what is legal can be tricky.
BAS has been working with lawyers in Europe for general legal advice as well as an IP specialist in the US.
Original shitcoin model was a gambling type model, and through the iterations, BAS has tried to move to a more compliant model. Model has had to be redefined to ensure BAS is not operating in any legal grey areas.
This newer model is legally compliant and will set BAS up for innovations being implemented through IP.
Majority of E-Sports have gambling licenses.
With all additional scrutiny sadly there will be many current models that will not be compliant in the future. Team as been working to ensure any development will be regulation compliant and a project that has a long term future roadmap without legal concerns and costs.
Pivots have allowed further innovation in ways no one has done before.
Dean Wolf was introduced as IP counsel and a member of the team. 28 years experience with IP law on gaming and for gaming firms.
BAS has filed a provisional patent application. We now have a patent pending on a lot of our models. Once our patent is approved, additional information will be released. This will allow BAS to protect its rights and protect the company from those who want to infringe on the models or innovations to connect to the chain and gives BAS leverage to either license usage or work out settlements.
These legal steps help BAS become a leader in the space.
International corporate entity to be set up in Zurich, Switzerland in order to ensure we are in the most crypto-compliant region possible. This should be completed within the next few weeks.
BAS is essentially the first team with a patent-pending in the Play 2 Earn space.