Jack Dorsey Proposes Establishing a Bitcoin Legal Defense Fund for Developers

Block founder and CEO Jack Dorsey has proposed creating a legal defense fund for Bitcoin developers as the community faces troublesome lawsuits and growing regulatory pressure. .

Jack Dorsey Proposes Establishing a Bitcoin Legal Defense Fund for Developers
Jack Dorsey Proposes Establishing a Bitcoin Legal Defense Fund for Developers

Jack Dorsey wrote the proposal in a January 12 email to Bitcoin developers at bitcoin-dev address. The email was signed by Dorsey, Chaincode Labs co-founder Alex Morcos and University of Sussex scholar Martin White.

The Bitcoin Legal Defense Fund is a non-profit organization that aims to reduce legal problems for Bitcoin developers and related projects. The main purpose of the fund is to protect developers from lawsuits related to their activities in the Bitcoin ecosystem, including finding defense attorneys, developing litigation strategies, and paying for chemicals. legal application.

Initially, the fund will include volunteers and part-time attorneys. The fund’s board of trustees will be responsible for identifying lawsuits and defendants seeking help. Currently, the fund is not looking to raise more money for its operations, but may do so in the future as directed by the board of directors.

According to the post, the fund’s first activity was coordinating the defense of Craig Wright’s Tulip Trading lawsuit, which has long received a lot of criticism from the investor community, against Bitcoin developers for violating the law. The trust case for the theft of cryptocurrency from the hack of the Mt. Gox.

Ontier LLP, the law firm representing Tulip Trading, has been given the green light by the High Court of London to document the 16 Bitcoin developers involved in the fight. Besides, Wright has also just won the Bitcoin whitepaper copyright lawsuit and successfully achieved another lawsuit related to the identity of Satoshi Nakamoto.

However, the proposal to establish a Bitcoin legal defense fund is Jack Dorsey’s latest attempt at BTC. In 2021, Dorsey achieves certain achievements in the crypto industry.

These include allowing Twitter to launch a Bitcoin deposit feature, planning to build a DEX and a Bitcoin mining system, despite the mixed views of Ethereum founder Vitalik Buterin. Recently, the former Twitter CEO was also the main character in the drama Web3 when he followed the views of billionaire Elon Musk, voicing doubts about this field.

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