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HomeCoinsBitcoinJack Dorsey Introduces Bitcoin Legal Defense Fund to Protect Open Source Developers

Jack Dorsey Introduces Bitcoin Legal Defense Fund to Protect Open Source Developers

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Jack Dorsey Presents Bitcoin Legal Defense Fund to Safeguard Open Source Developers

< img width=" 1280 "height=" 720 "src=" http://investincryptocoins.com/wp-content/uploads/2022/01/0h6aA9.jpg "class= "story __ img short article __ poster" alt=" Jack Dorsey Presents Bitcoin Legal Defense Fund to Safeguard Open Source Developers "loading=" lazy" > A current letter released to the Bitcoin developers mailing list composed by Square creator Jack Dorsey indicates that a legal defense fund has been created for open source developers in order to safeguard them “from suits concerning their activities in the Bitcoin ecosystem.” Dorsey’s letter is likewise signed by Alex Morcos of Chaincode Labs and Martin White, the co-founder of Hudson River Trading. Jack Dorsey’s Open Letter to the Bitcoin Developers Subscriber List Exposes Bitcoin Legal Defense Fund

According to an open letter from Jack Dorsey, Alex Morcos, and Martin White, “the Bitcoin neighborhood is presently the topic of multi-front litigation.” While the letter does not specifically detail any of the legal cases developers are dealing with, it discusses that “individual offenders have picked to capitulate in the absence of legal assistance.”

Jack Dorsey Introduces Bitcoin Legal Defense Fund to Protect Open Source Developers
< figure id=" attachment_504220 "aria-describedby= "caption-attachment-504220" class =" wp-caption aligncenter" >< img loading=" lazy "class=" wp-image-504220 size-full" title=" Jack Dorsey Introduces Bitcoin Legal Defense Fund to Safeguard Open Source Developers"

src=” http://investincryptocoins.com/wp-content/uploads/2022/01/RtSmH7.jpg” alt=” Jack Dorsey Presents Bitcoin Legal Defense Fund to Protect Open Source Developers” width=” 1280″ height =” 550″ > Open letter to Bitcoin developers from Jack Dorsey, Alex Morcos, and Martin White. Nevertheless, the letter does hint at the Tulip Trading claim, which involves Craig Wright, the Australian who claims he is Satoshi Nakamoto and the developer of Bitcoin.” The Bitcoin Legal Defense Fund is a nonprofit entity that aims to reduce legal headaches that discourage software application designers from actively establishing Bitcoin and related tasks such as the Lightning Network, Bitcoin privacy procedures, and so forth,” the letter from Dorsey, White, and Morcos states. The open letter continues:

The fund’s first activities will be to take control of coordination of the existing defense of the Tulip Trading claim against certain developers declaring breach of fiduciary duty and offer the source of financing for outside counsel. At this time, the fund is not looking for to raise additional cash for its operations but will do so at the direction of the board if required for additional legal action or to spend for staff.

Bitcoin Community Appreciates Legal Defense Fund Effort

The letter describes that interested people with concerns or issues can email the fund’s team and the e-mail domain “bitcoindefensefund.org” is pointed out. The site seems to be under building at the moment, as a message from the domain host Namebright notes the website is “coming soon.” Obviously, the Bitcoin Legal Defense Fund became a trending topic on social networks after the open letter was released.

Open source designer Bryan Bishop tweeted that he was “really grateful to see Jack’s assistance on the Bitcoin Developer Legal Defense Fund.” Bitcoiner Marty Bent composed: “Shoutout to Jack, Alex Morcos, and Martin White for stepping up to protect Bitcoin developers from getting bogged down by claims so they can focus on what they do best. Actually cool to see come through the bitcoin-dev subscriber list this evening,” Bent included.

Tags in this story
Alex Morcos, Bitcoin Legal Defense Fund, Bryan Bishop, Chaincode Labs, Craig Wright, Defense Fund, Developers, Hudson River Trading, Jack Dorsey, Suits, legal fund, legal funding, Martin White, Marty Bent, Open Letter, open source designers, Satoshi Nakamoto, Tulip Trust

What do you think of the Bitcoin Developer Legal Defense Fund information Jack Dorsey published on the developers’ subscriber list on Wednesday? Let us know what you think of this topic in the comments section below.

Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency neighborhood because 2011. He wants Bitcoin, open-source code, and decentralized applications. Considering that September 2015, Redman has composed more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

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In Case You Missed It Published at Wed, 12 Jan 2022 18:30:18 +0000

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