of Bitcoin Policy Research Institute (BPI) is Peer to Peer Rights Fund, a strategic initiative aimed at protecting the decentralized, peer-to-peer integrity of the Bitcoin ecosystem. The Fund’s mission is to protect non-custodial tools and their developers from regulatory overreach, ensuring that innovation, privacy, and user autonomy are protected.
🚀Announcing the Peer-to-Peer Rights Fund
What’s the mission? Protecting the decentralized peer-to-peer integrity of the Bitcoin ecosystem by protecting non-custodial tools and their developers from regulatory overreach.
Learn more and make a tax-deductible donation here:…
— David Zell (@DavidZell_) May 20, 2024
Peer-to-Peer Rights Fund is dedicated to protecting the decentralized nature of Bitcoin through strategic litigation and advocacy. The Fund aims to establish a fair legal framework that fosters the growth and resilience of Bitcoin’s open source community by supporting vital litigation and providing critical regulatory guidance. Masu.
BPI argues that Bitcoin’s success lies in its peer-to-peer foundation, and that this decentralized, open-source tool is powered by users and operates free from greed, graft, corruption, etc. Distinguished from electronic cash efforts. Politics and overregulation. Developers around the world are building non-custodial tools that preserve the essence of Bitcoin, including multi-signature wallets, lightning service providers, and CoinJoin coordinators that strengthen security, facilitate low-cost transactions, and ensure privacy. has been built.
Recently, US regulators have changed their tune and are threatening the non-custodial ecosystem by going after developers and companies of open source tools such as Tornado Cash, Samurai Wallet, Uniswap, and MetaMask. These cases could lead to unfavorable precedents, as the government’s broad interpretation suggests that anyone who facilitates the transfer of funds, regardless of fund management, should be regulated under the Bank Secrecy Act. It could jeopardize the U.S. non-custodial Bitcoin ecosystem. This extends regulation to a variety of non-custodial Bitcoin tools, potentially impacting developers of hardware wallets, transaction broadcast nodes, miners, and communal custody services.
The fund’s first project is the defense of Samurai Wallet founders Keon Rodriguez and William Lonergan Hill.Rodriguez and Hill faces Fee Conspiracy to launder money and operate an unauthorized money services business.
“Prosecutors’ attempt to classify Samurai’s non-custodial coinjoin tool as a money services business risks setting a harmful precedent that could impact the entire Bitcoin ecosystem,” BPI co-founder said David Zell. “By defending this case, the Fund seeks a favorable outcome that ensures the court understands the technology and legal principles at issue and establishes that non-custodial privacy tools are not regulated by the Bank Secrecy Act. The aims.”
The outcome of Rodriguez and Hill’s case could have a significant impact on the future of non-custodial Bitcoin tools and the broader decentralized finance landscape. Through this fund, BPI will provide critical resources to defense attorneys, sponsor court briefs, and support impactful litigation so that innovation within the Bitcoin ecosystem is supported by a fair and just legal framework. We aim to ensure that we can grow at the bottom.
For more information or to donate, please visit the website. here.
