Bitcoin Policy Institute Launches Fund To Protect Non-Custodial Tools

[ABCbits]

Bitcoin Policy Institute Launches Fund To Protect Non-Custodial Tools From Regulatory Challenges

The Bitcoin Policy Institute (BPI) has launched its Peer-to-Peer Rights Fund to safeguard the decentralized, peer-to-peer integrity of the Bitcoin ecosystem.

The fund aims to defend non-custodial tools and their developers from regulatory overreach to ensure innovation, privacy, and user autonomy... Read more here.


Their goal is rather important, especially after Tornado Cash developer got jailed recently. I'm not very familiar with BPI though, but it seems they previously only focused on research. Your opinion is greatly appreciated.

[hugeblack]

Their first project is to defend the founders of Samourai Wallet, which may not give a good impression, especially to legal authorities that can be influenced.


The project's focus is also on litigation and advocacy, meaning their focus will be on reducing or eliminating penalties for the developers of these projects after they are legally accused. But even if the developer comes out innocent, the loss of his reputation and a few months in court is enough to make anyone think several times before contributing to such projects. .


I hope there will be more pressure on lawmakers to protect privacy in crypto and enact legislation for that.

[Jeffy112]

The initiation of the Peer-to-Peer Rights Fund by the Bitcoin Policy Institute is of great value to both users and the crypto market. By safeguarding non-custodial tools and their developers from regulatory overreach, they uphold innovation, privacy, and user autonomy. This not only shields individual users but also nurtures a dynamic and robust crypto ecosystem, ultimately benefiting all participants in the market.

[TomPluz]

Their goal is rather important, especially after Tornado Cash developer got jailed recently. I'm not very familiar with BPI though, but it seems they previously only focused on research. Your opinion is greatly appreciated.

This move must be supported by the whole cryptocurrency community as it seems to me that a big war on non-custodial platforms is being waged by SEC and other regulatory bodies of the government. This has to stop and we need to have a united and strong voice against this obviously overreach onslaught. And since this movement needs money and resources to make the goal be successful, I am happy that  Bitcoin Policy Institute is making this pivotal initiative which can go a long, long way to protect platforms from our enemies...and help them understand better why non-custodial is very important to all people into cryptocurrency...without it there is actually less value and less reason why we continue to get involved.

[hugeblack]

This move must be supported by the whole cryptocurrency community as it seems to me that a big war on non-custodial platforms is being waged by SEC and other regulatory bodies of the government.

I do not know what charges will be brought against the developers of Samourai Wallet, but I would not be surprised if they were acquitted without any judgement.
These are issues in which pressure must be placed on legislators and those who make these policies, and not in the courts, which often will not be able to prove many of the charges against these developers.

[ABCbits]

Their first project is to defend the founders of Samourai Wallet, which may not give a good impression, especially to legal authorities that can be influenced.

I also worried about that, especially when the founder advertise their service to avoid sanction. There are other less controversial case they could take, such as defending Uniswap for SEC sue.

[NotATether]

Their first project is to defend the founders of Samourai Wallet, which may not give a good impression, especially to legal authorities that can be influenced.

I also worried about that, especially when the founder advertise their service to avoid sanction. There are other less controversial case they could take, such as defending Uniswap for SEC sue.

There is nothing controversial about raising funds to defend somebody in court. In fact, even sanctioned funds can be used to pay for lawyers and other legal expenses that the people controlling said funds happen to be in (at least in the United States).

COPA made a huge fuss about funding Hodlonaut when Craig Wright was trying to sue him into oblivion and look at the result. It was worth it, no?

[ABCbits]

Their first project is to defend the founders of Samourai Wallet, which may not give a good impression, especially to legal authorities that can be influenced.

I also worried about that, especially when the founder advertise their service to avoid sanction. There are other less controversial case they could take, such as defending Uniswap for SEC sue.

There is nothing controversial about raising funds to defend somebody in court. In fact, even sanctioned funds can be used to pay for lawyers and other legal expenses that the people controlling said funds happen to be in (at least in the United States).

I'm not sure whether i write earlier sentence poorly or we have different definition of controversy.

COPA made a huge fuss about funding Hodlonaut when Craig Wright was trying to sue him into oblivion and look at the result. It was worth it, no?

You're right, although supporting COPA isn't really controversial when most people perceive CSW as liar, fraud or incompetent.

[NotATether]

COPA made a huge fuss about funding Hodlonaut when Craig Wright was trying to sue him into oblivion and look at the result. It was worth it, no?

You're right, although supporting COPA isn't really controversial when most people perceive CSW as liar, fraud or incompetent.

Obviously it is much easier for people to see that Craig Wright is a con, even with their tin foil hats on, as well as incompetent, but I don't think it's difficult to see that the task force of the US government whose job is to stamp out "bad crypto" (Operation Chokepoint 2.0 people) are also incompetent.

Sure, you can make the case that the US government is a much stronger and more powerful prosecutor than CSW ever was even with all his billionaire backers, but at the end of the day, if an org is trying to take down bitcoin privacy services to stop money laundering, that screams incompetence too as that implies they'd rather not go after the crime itself.

[Faisal2202]

Their goal is rather important, especially after Tornado Cash developer got jailed recently. I'm not very familiar with BPI though, but it seems they previously only focused on research. Your opinion is greatly appreciated.

This is my first time hearing about BPI, in my opinion, it's a good initiative to support the BTC developers and those who build relevant tools of security and anonymity. I checked their website, not so many visitors, but I hope they will get some in future, I also concluded they don't have enough funds right now, that's why they are leveraging this moment into there own benefit.

Even if they are, I hope we will get to see good results from this association. They are planning to gather funds to support the recent cases opened against the developers of Somurai wallet. As this will be there first case as well, I did not have any data on the lawyer and there win ratio etc. to predict the expected outcomes of them fighting the case. Overall, its a good initiative, it will help new developers to come into this industry.