Former Twitter CEO Jack DorseyIn response to the legal battles faced by Bitcoin developers, it has announced a fund to support developers. According to the announcement, Bitcoin Legal Defense Fundwill be led by Chaincode Labs co-founder Alex Morcos and Martin White, Professor of Computer Science in the Department of Informatics at the University of Sussex.
Also in the announcement, the bitcoin It was said to provide legal defense for Bitcoin developers facing lawsuits related to their activities in the ecosystem. Some of the support includes paying legal bills, developing litigation strategies, and finding a defense attorney.
“The primary purpose of this Fund is to protect developers from lawsuits related to their activities in the Bitcoin ecosystem, including finding and retaining defense attorneys, developing litigation strategy and paying legal bills.”
In the last few years, software developers have faced various hurdles due to legal difficulties. Bitcoin Legal Defense Fund was created as a nonprofit fund to offset some of these challenges. For now, Bitcoin developers will be assisted by volunteer and part-time lawyers.
First Case to be Supported
According to the announcement, the board of directors of the fund will determine the defendants to be supported. In addition, the provision of additional resources for this transaction will be at the instruction of the board of directors. Currently, the Fund does not seek to raise additional funds for its operations, but will do so at the direction of the board of directors if further legal action or staffing is required.
For a start, the funds will co-ordinate the current defense of the Tulip Trading case. the subject of the case bitcoin developers, owned by Craig Wright Tulip Trading He was sued by his limited company for “violation of security duty”. This and many other lawsuits developers are facing is what the Bitcoin Legal Defense Fund is trying to provide support for. Dorsey’s contribution to the ecosystem in this way can be considered as a valuable and important development.