Author: jack 2022-01-12 00:13:45
Published on: 2022-01-12T00:13:45+00:00
Bitcoin developers are facing multi-front litigation and threats, leading some individual defendants to capitulate due to lack of legal support. To address this challenge, a group of developers has proposed the creation of the Bitcoin Legal Defense Fund, a non-profit entity aimed at minimizing legal headaches that often discourage software developers from actively developing Bitcoin and related projects such as the Lightning Network and Bitcoin privacy protocols. The fund will defend developers from lawsuits regarding their activities in the Bitcoin ecosystem, including finding and retaining defense counsel, developing litigation strategy, and paying legal bills. The board of the fund will determine which lawsuits and defendants it will help defend and start with a corps of volunteer and part-time lawyers.The first activity of the Fund is to coordinate the existing defense of the Tulip Trading lawsuit against certain developers alleging breach of fiduciary duty and provide the source of funding for outside counsel. The Fund is not currently seeking to raise additional money for its operations but will do so at the direction of the board if needed for further legal action or to pay for staff.The Bitcoin Legal Defense Fund is a free and voluntary option for developers to take advantage of if they so wish. For more information, interested parties can email info at bitcoindefensefund.org.
Updated on: 2023-05-22T16:32:12.635275+00:00