Working with dotlaw

On 20 April 2026 we engaged dotlaw of Wrocław as our legal counsel, to build the corporate and contractual structure a crypto-derivatives data business needs.

by Halcyon Waters5 min read
#company#partnership
Halcyon Waters and dotlaw, legal counsel since April 2026

Today we engaged dotlaw, a law firm in Wrocław, as our legal counsel.

We spoke to several firms. What settled it was that dotlaw did not treat crypto as a curiosity to be handled carefully at arm's length. Their FinTech practice already works in the regulatory vocabulary this business lives in: MiCA and what it means to classify a token, CASP licensing, AML and KYC as an operating system rather than a policy document, DORA, and the AI Act as it lands on algorithmic decision-making. We did not have to explain the territory before we could ask a question about it.

The other half of the fit is duller and matters as much. Their corporate practice covers the structure itself: company formation, governance, tax structuring, due diligence. Their other two specialisations are data protection and intellectual property, which is the exact pair a company whose only asset is a computed dataset ends up needing. Their client list runs to Toggl, Lisk and Jutro Medical, so the work is tested against companies that ship.

What we have asked them to build is the structure behind Cayø Largo: the company itself, and the contractual footing for selling computed market data across jurisdictions that do not agree with each other about data. Those are not the same question, and neither has an off-the-shelf answer. What is actually being licensed when a customer buys derived analytics rather than software. Who may buy it. What they may not do with it afterwards. Terms a compliance team at a trading firm can read once and approve, rather than return with questions.

Their own line for this is that legal architecture belongs inside the product rather than beside it, and that a lawyer's job is a decision rather than a description of the risk. That is the right instinct for what we are building.

Our thanks, at the start of this, go to Michał Skrzywanek and Damian Klimas, who have already asked the questions we had not thought to ask.

This matters more in our corner of the market than it might elsewhere. Crypto-derivatives analytics is full of good work published by people nobody can identify, behind terms nobody can sign. A registered company, a named founder and an agreement a serious buyer can take to their own lawyers is not paperwork we intend to tolerate. It is part of what we will be selling, and dotlaw are building it with us.

We are glad to have them alongside, and we are looking forward to the years ahead.

Published on 4/20/2026