Former Twitter CEO and current Block Head Jack Dorsey has revealed plans to form a “Bitcoin Legal Defense Fund” alongside Chaincode Labs co-founder Alex Morcos and University of Sussex scholar Martin White.
The notification was issued today to bitcoin-dev, a mailing list for Bitcoin developers, using an email account that appears to belong to Dorsey. The fund will support Bitcoin developers who are “now the subject of multi-front litigation,” according to the release.
The Bitcoin Legal Defense Fund is defined as a “nonprofit company that attempts to reduce legal hassles that dissuade software engineers from actively developing Bitcoin and similar projects,” according to the statement.
Founder and CEO of AvantiBT Caitlin Long Re-shared her Tweet back from March 2020. In the Tweet she mentioned the Wyoming’s law passed in the Senate to protect open source Software developers.
The Fund Will Help Developers To Defend Against Any Litigations
The fund would initially comprise volunteers and part-time attorneys for developers to “take advantage of if they so want,” according to the email. “The board of the Fund will be responsible for deciding which cases and defendants it will help defend,” according to the email. “At this moment, the Fund is not seeking further funds for its operations,” it said, “but will do so at the order of the board if necessary for future legal action or to pay for employees.”
According to the email, the fund’s first mission will be to take up Ramona Ang’s “Tulip Trading Lawsuit” against developers including Ira Kleiman for alleged misbehaviour over access to a BTC wealth.
Here’s the email sent by Dorsey embedded in a Tweet by BTC Times.
Jack Dorsey, the former CEO of Twitter who stepped down at the end of November 2021, has been a long-time supporter of Bitcoin. It’s unclear if the newly appointed Block CEO quit the social media platform to focus on the company’s intentions to build a decentralised Bitcoin exchange.
tbDEX, a decentralised exchange project, also issued a white paper in November 2021 outlining its aims to establish a messaging protocol to support trust relationships without depending on a federation to restrict access.
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