Blockchain-based distributed ledger technology (DLT) is rapidly emerging as an orchestration, execution, and general trust layer for collaborations between organizations. Specifically, a very robust corpus of research and technological ecosystem is emerging for capturing collaborations and choreographies in the Business Process Model and Notation (BPMN) language and translating the models to smart contracts. However, while the technical sophistication of the solutions described in the literature is constantly increasing and more and more domains are tackled, we see a worrying trend: regulatory compliance and the legal standing of the rights and obligations, as specified by the logic of the BPMN models, seem to remain largely unaddressed. In this paper, we survey the relevant literature to investigate this hypothesis, argue that this is a critical gap, and analyze how to address it, focusing on the unique opportunities enabled by the smart contract-based automation of collaboration logic specified in BPMN.