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Add a new user / entity legal agreement reflecting shift in jurisdiction
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dougbutner committed Mar 6, 2024
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10 changes: 5 additions & 5 deletions Legal/Disclaimer.md
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# Disclaimer

"PURPLE" refers to the cryptographic token found at address [purplepurple](https://wax.bloks.io/account/purplepurple) on the WAX blockchain, and any distinctions, restrictions, and terms defined for PURPLE also apply to the tokens BLUx [bluxbluxblux](https://wax.bloks.io/account/bluxbluxblux) and BLU [blublublublu](https://wax.bloks.io/account/blublublublu) and [SOL](https://wax.simplemarket.io/trading/ft/currentxchng/SOL).
"Purple" refers to the Positive Attention Economy that is a combination of PURPLE, BLUx, BLU, and SOL.
"Purple" refers to the Intentional Attention Economy that is a combination of PURPLE, BLUx, BLU, and SOL.
"Current X Change" and "cXc" refer to Current X Change LLC, registered in Maryland, USA.
"Mapps", "mapp" and "cXc.world" refer to launched and planned mapping applications hosted on subdomains of https://cxc.world
"Repo" refers to all documents in the same github repo this disclaimer.md is found.
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You are responsible for keeping your private key(s) safe. You are also responsible for providing the correct public key to receive your funds. You are responsible for any loss in tokens from misappropriating your private key(s), using a faulty wallet, sending to the wrong address, writing the wrong memo, or any other technical consideration outside of the control of Current X Change LLC.

**Purchasing PURPLE does not grant voting power in Current X Change LLC, or any other organization.** PURPLE cannot be directly used to influence incorporating applications, even cXc.world. PURPLE does not hold any voting power by itself until exchanged for other assets at market rate and/or rates set by Current X Change. The amount of voting power PURPLE can be exchanged for fluctuates over time and is different for every application utilizing a Purple Positive Attention Economy system. We cannot and do not guarantee PURPLE to be worth any specific amount of currency or influence in any application at any future time.
**Purchasing PURPLE does not grant voting power in Current X Change LLC, or any other organization.** PURPLE cannot be directly used to influence incorporating applications, even cXc.world. PURPLE does not hold any voting power by itself until exchanged for other assets at market rate and/or rates set by Current X Change. The amount of voting power PURPLE can be exchanged for fluctuates over time and is different for every application utilizing a Purple Intentional Attention Economy system. We cannot and do not guarantee PURPLE to be worth any specific amount of currency or influence in any application at any future time.

# State of completion
Current X Change makes no guarantee that the mechanisms described in this repo are functional or will be functional at any specific time in the future. Changes in Purple may take place at any time without notice. Only max supply of the Purple-related tokens cannot change, plus founder pay, and liquidity promise.
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Here we will examine why PURPLE is not a security, and can be sold in the United States without adhering to the regulations set out for securities by the SEC. While it can be argued that some of these conditions are met, it is unreasonable to conclude that all four conditions met. The numbered points are addressed below.


1. Although money can be indirectly used to purchase PURPLE buy first purchasing WAX, it is not needed to acquire the token, nor can it be to directly acquire PURPLE. The token can be earned in through actions on cXc.world, and through actions defined by Current X Change LLC and third party applications incorporating the PURPLE Positive Attention Economy, neither of which require investment of another asset or money.
1. Although money can be indirectly used to purchase PURPLE buy first purchasing WAX, it is not needed to acquire the token, nor can it be to directly acquire PURPLE. The token can be earned in through actions on cXc.world, and through actions defined by Current X Change LLC and third party applications incorporating the PURPLE Intentional Attention Economy, neither of which require investment of another asset or money.

2. Documents in this repo makes it clear that the token’s value is exposure on the applications produced by Current X Change LLC and third party applications incorporating the PURPLE Positive Attention Economy. We are selling the ability to empower the creators of the world, not the return on investment in purchasing this utility token. Any person purchasing PURPLE for financial gain has created that idea through their own deduction, not through the promotional efforts of Current X Change LLC, nor any associated person or entity.
2. Documents in this repo makes it clear that the token’s value is exposure on the applications produced by Current X Change LLC and third party applications incorporating the PURPLE Intentional Attention Economy. We are selling the ability to empower the creators of the world, not the return on investment in purchasing this utility token. Any person purchasing PURPLE for financial gain has created that idea through their own deduction, not through the promotional efforts of Current X Change LLC, nor any associated person or entity.

2. The Positive Attention Economy of Purple operates completely without money. Creators can earn and spend PURPLE without ever touching money. Any financial market created for this token is separate from its function, and not needed for the operation of the token, nor for the operation of Purple.
2. The Intentional Attention Economy of Purple operates completely without money. Creators can earn and spend PURPLE without ever touching money. Any financial market created for this token is separate from its function, and not needed for the operation of the token, nor for the operation of Purple.

3. Though the definition of a "common enterprise" [differs](https://core.ac.uk/download/pdf/159597203.pdf) in the courts, it can be argued that PURPLE does and also does not fit the common definition. While the token itself may represent a common enterprise in the sense that each token can be exchanged at market value for another currency, the actual value received for PURPLE is different for each user, most noticably in the differing incentives for Artists and Fans, but also for each individual staker, and each individual piece of content that is the recipient of these Ups.

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29 changes: 29 additions & 0 deletions Legal/new-cxc-legal.md
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## Refer to [disclaimer.md](https://github.com/currentxchange/purple-explainer/blob/master/Legal/Disclaimer.md) for definitions binding to this document

## Dissolution of Current X Change LLC

Current X Chanve LLC has been dissolved according to the laws of Maryland, United States of America, and all business operations in Maryland and in the United States have been ceased at the exact moment Of the execution of dissolution.

In pursuit to original token agreement, no tokens were issued to citizens of the United States, and no business is being conducted in the state of Maryland. All assets and IP of Current X Change LLC have been transferred to successor company immediately upon the execution of the dissolution of Current X Change LLC, happening at the moment the legal structure in Maryland was dissolved.

## Transition of Operations to Belize
The Buyer And are interested parties including governmental agencies within the US acknowledges that following the dissolution of Current X Change LLC in the United States, all business operations, including but not limited to the development, issuance, and management of PURPLE Tokens, are now exclusively conducted by the Seller within the jurisdiction of Belize. There are no ongoing operations, business activities, or legal entities associated with the Seller in the United States.

## Recitals
WHEREAS, the Seller, now a fully Belize-based entity, is dedicated to the development of the Current X Change (cXc) applications and the issuance of PURPLE Tokens within the regulatory framework of Belize;

The name and structure of the entity has not been released to the public.

WHEREAS, the Buyer intends to purchase PURPLE Tokens under the revised terms and conditions suitable for the Seller's operations in Belize. The definition of the buyer also extends to any user of software produced by the entity formerly known as Current X Change LLC, or the new entity that now houses all operations, as well as any tokens, nonfungible tokens or other assets created by the project, subsidiaries, or related entities.

## Utility of PURPLE Tokens
PURPLE Tokens are utility tokens issued under the legal and operational framework of Belize. The Buyer acknowledges the complete transition of the Seller's operations to Belize and agrees that the purchase and use of PURPLE Tokens are governed by Belizean law and the terms outlined in this Agreement.

## Restrictions for International Business Corporations in Belize
The Buyer is aware that the Seller, as an International Business Corporation in Belize, is restricted from engaging in business with Belize residents or owning real estate in Belize, except as permitted by Belizean law. These restrictions are in compliance with the Belize International Business Companies Act and ensure the Seller operates within the legal confines of its jurisdiction.

## Jurisdiction and Dispute Resolution
This Agreement and any disputes arising from it are governed by the laws of Belize. The parties agree to resolve any disputes through arbitration in Belize.

## Miscellaneous
This Agreement confirms the cessation of the Seller's operations in the United States and the full transition of business activities to Belize. All references to the United States in previous agreements are hereby nullified, and Belizean law shall govern this Agreement, And all future agreements involving any intellectual property created by Current X Change LLC, subsidiaries, or related projects wihtin legal scope.

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