According to Odaily, the Bitcoin Policy Institute, founded by David Zell and Grant McCarthy, has launched a Peer-to-Peer Rights Fund to defend the decentralization of Bitcoin. Zell has expressed concern over the regulatory attacks on peer-to-peer transactions using non-custodial and decentralized tools. These regulatory bodies have altered the legal considerations impacting these transactions.
The fund has noted recent legal cases involving Tornado Cash, Samourai Wallet, Uniswap, and MetaMask, indicating a shift in regulatory attitudes towards decentralization, viewing developers as financial institutions. In response to the broad legal interpretation's impact on the non-custodial crypto environment, the fund will focus on providing resources to help cases that significantly impact the crypto industry, aiming to ensure 'key' legal precedents.
The first case to be handled by the fund will be the defense of Samourai Wallet's founders, Keonne Rodriguez and William Lonergan Hill, who are accused of conspiracy to launder money and operate an unlicensed money services business.