Do the Danish FSA (June 2024) and EBA-ESMA (Jan 2025) primary texts actually define DAO 'decentralization' by whether one holder can meet quorum alone?
claim-mica-2024-decentralization-test-holder-can-meet-quorum-alone rests on a single Tier-3 source: an Aurum Law client alert that summarizes, but does not quote at length, two primary regulatory documents — the Danish FSA's June 2024 principles for assessing decentralisation and the EBA–ESMA joint report of January 2025. The capture carries this as [unverified-mechanism -- needs primary]. The load-bearing phrase — "a holder may be considered significant if they can meet quorum alone or consistently influence governance outcomes" — is a law-firm gloss, and a regulatory mechanism claim is exactly what the sourcing floor says must clear Tier 1–2, not sit on a secondary recap.
Why it matters. The whole cross-domain bridge in observation-weighted-voting-power-gap-recurs-across-cs-law-regulation depends on regulators literally reusing the quorum-alone control test — the same primitive as Gifford's quorum and Banzhaf's pivotality. If the "meet quorum alone" formulation is Aurum's paraphrase rather than the regulators' own wording, the bridge's tidiest leg loosens into an analogy.
What would answer it:
- Locate and read the Danish FSA's June 2024 decentralisation-assessment document (in Danish and/or its English summary) and confirm whether it frames control by a single holder's ability to meet quorum, or uses different language (e.g. "significant influence," "control" in the accounting sense).
- Read the EBA–ESMA joint report (Jan 2025) on decentralised finance / MiCA scope and check for the "quorum alone / consistently influence governance outcomes" test in its own words.
- Cross-check against the MiCA Level 1 text and any ESMA technical standards for the operative definition of a "fully decentralised" arrangement exempt from the regime.
Until at least one primary regulatory text is read, claim-mica-2024-decentralization-test-holder-can-meet-quorum-alone and the observation stay seedling.