For Terraform Labs, the existence of Mirror poses no legal risk as the
protocol is entirely decentralized. The Mirror Protocol is entirely governed by users that hold MIR governance tokens, and the company nor its founders hold any tokens. Also operator and admin keys to smart contracts have been burned, which means that protocol upgrades can happen via onchain governance upgrade proposals.
The legal risks to users (mAsset minters & buyers) would depend on jurisdiction to jurisdiction
If we had to draw an analogy to traditional finance, mAssets have properties akin to CFDs, which are legal and frequently used in jurisdictions outside of US, China and brazil
You can read more in the interview with Spencer Noon below:
🧑🏻🚀 Terra CEO and founder of Mirror Protocol, Do Kwon appeared on an AMA with Spencer Noon this Thursday (Jan 21, 2020)!
🌐AMA transcript:
https://crypto-ama.herokuapp.com/messages_mirror.htmlSpencer Noon is General Partner at
Variant. Previously he lead crypto investments at DTC Capital. Spencer first joined the blockchain industry in 2014, starting Bitcoin on-ramp company
BTCity.