Ex CEO of Twitter Jack Dorsey, Alex Morcos, and Martin White published an email to Bitcoin developers about establishing a Bitcoin Legal Defense Fund.
The news comes amid the growing tension in cryptocurrency regulations that have posed significant challenges (litigation and lawsuits) to the growth of the community.
From left and right, federal regulators are hunting crypto or blockchain startups in court and smashing a number of legal settlements for rule violations. Thus, this triggers protests from the community who says it threatens a growing sector of the economy.
Recently, regulators like the US Securities and Exchange Commission (SEC), the Treasury Department, and the Commodity Futures Trading Commission (CFTC) reported over $120 million in penalties strived at crypto exchanges.
