Defense Fund Established to Protect Bitcoin Developers

Bitcoin supporter, former CEO of Twitter, one of the most popular social media platforms, Jack Dorsey, has seen Bitcoin developers increasing recently and which seems to continue to increase. to protect from lawsuits He proposed the creation of a non-profit legal defense fund for

Dorsey’s plans; It came about thanks to an email transcript shared by Zack Voell, who describes himself as a “Bitcoin junkie” on Twitter. in sharing “The Bitcoin community is currently the subject of a multi-front case. lawsuits and continuing threats showing its intended effect; individual defendants chose to surrender in the absence of legal support. “ Dorsey noted that open source developers, who are mostly independent, especially legal pressurestates that they are sensitive to

The fund, which will consist of volunteer lawyers, will provide free service.

It seems that Dorsey is against the growing trend of legal opposition to Bitcoin developers. “coordinated and formal to help defend developers” He wants to create a defense system. ‘Bitcoin Legal Defense Fund’ The new nonprofit, called (Bitcoin Legal Defense Fund), is working on all aspects of Bitcoin software and asset development. expected to help developers. In the e-mail that Dorsey sent, it is noteworthy that he especially focused on the Lightning Network, Bitcoin privacy protocols and the like.

The fund will help its clients find and retain legal counsel and develop overall legal strategies for litigation related to Bitcoin and blockchain legal issues, along with funding to pay relevant legal bills. Dorsey, organization “which developers can take advantage of if they want to free and voluntary an option” defines as.

Initially “Association of voluntary and part-time lawyers”Special circumstances undertaken by the Bitcoin Legal Defense fund, which will consist of The fund’s first mission includes self-proclaimed ‘Bitcoin creator’ Craig Steven Wright. Tulip Trading There will be a lawsuit. “Some developers claiming security mission breach” lawsuit against the infamous Mt. Gox cryptocurrency exchange and the now defunct exchange, resulting from the hacking and approximate 200 million dollarsHe was brought to court for the theft of Bitcoin and other coins.

For the time being, the CEO of ‘The Block’ said that the fund is not trying to raise additional money for its activities; However further legal action or to pay for the personnel, if necessary, at the instruction of the board of directors.