Jack Dorsey to create a legal protection fund for bitcoin developers
Former Twitter CEO and Founder Jack Dorsey has announced plans to create a “Bitcoin Legal Defense Fund” with Chaincode Labs co-founder Alex Morcos and Martin White, an academic at the University of Sussex.
The announcement was posted to the Bitcoin developer mailing list on January 12th from an email address owned by Dorsey.
The announcement says the foundation will help provide legal protection to Bitcoin developers who are “currently the subject of multilateral litigation.”
“Litigation and constant threats have had the expected effect; individual defendants chose to capitulate in the absence of legal support, ”reads the email.
The announcement describes the foundation as “a non-profit organization that seeks to minimize legal issues that prevent developers from actively developing bitcoin and related projects.”
“The main goal of the foundation is to protect developers from lawsuits related to their activities in the bitcoin ecosystem, including finding and hiring defense lawyers, developing a litigation strategy and paying legal bills,” the message says. < / p>
Initially, the foundation will include volunteers and part-time lawyers, but the email also states that “the foundation board will be responsible for helping to provide protection.
According to the email, Ira Kleiman and other developers accused of stealing bitcoins will be the first to fall under the protection of the organization.