The Brooklyn Project and TruSet, with support from AirSwap, Gnosis, and Kyber, have launched a two-week initiative ending on January 24th to evaluate making crypto-compliance easier and better. This is an open initiative that leverages the expertise and passion of open communities to source and validate important information related to regulatory compliance about token projects.

The community-supported compliance initiative is a recognition that almost everyone is struggling with the same problem — so much of the promise of Web 3.0 is the ability of projects to build on top of and interoperate with each other. But when it comes to incorporating other cryptoassets into a software product, projects want to take compliance seriously so they do not inadvertently trigger burdensome regulations like securities laws.

Today, this is a difficult balancing act. It generally involves having to do a lot of burdensome and costly fact-gathering about specific projects. Everyone tries to gather the same facts as everyone else, but with no coordination or collaboration and lots of duplication of effort and expense.

The goal of this initiative is to test making the process more collaborative, efficient, and reliable through community-validated data. The Brooklyn Project and initiative partners have identified some facts that can help projects conduct regulatory compliance analyses. TruSet has a crypto-economic system that enables an open community to source and validate those facts.