Projects

We are committed to using resources judiciously, focusing on long-term impact while maintaining the flexibility to respond swiftly to urgent legal challenges. Selection of cases or projects for involvement is guided by three primary criteria:

1. Alignment with Guiding Principles: The proximity and significance of a case or project to the fund’s core principles are paramount. This includes evaluating how directly a government enforcement action may infringe upon these principles, the breadth and potential damage of the precedent set, and the strategic dissemination of regulatory guidance to developers of open-source, non-custodial tools.


2. Potential for Success and Impact: We will assess the likelihood and scale of success in each case. Factors considered include whether other parties are capable of defending themselves, the unique position of the fund to offer support, the probability of legal victory, and the value of the legal precedent that success might establish.


3. Cost Efficiency: Financial prudence is essential; therefore, the fund will evaluate the cost-effectiveness of different types of legal support. This includes deciding between financing defense counsel or contributing an amicus brief, and choosing between providing individual legal advice or developing generic resources that benefit a broader audience.

BPI Project: U.S. v. Rodriguez & Hill (Samourai Wallet)

Keonne Rodriguez and William Lonergan Hill, founders of Samourai Wallet, face charges of conspiracy to commit money laundering and operating an unlicensed money services business. The prosecution's attempt to classify Samurai's non-custodial coinjoin tool as a money service business risks setting a damaging precedent that could impact the entire Bitcoin ecosystem.

By supporting this case, we can ensure that the court adequately understands the technology and legal principles at stake in this case, and seek a favorable result establishing that non-custodial privacy tools cannot be regulated under the Bank Secrecy Act. The outcome of this case will significantly impact the future of non-custodial Bitcoin tools and the broader decentralized finance landscape.