- 20 human rights leaders from 20 nations penned an open letter to the U.S Congress to ask for accountable bitcoin laws.
- The letter was partly a response to an anti-crypto letter just lately despatched to Congress that opposed the thought that bitcoin brings about optimistic monetary innovation.
- Notable signatories of the letter embody Alex Gladsein, Yeonmi Park and Farida Nabourema.
An open letter of assist for accountable bitcoin and stablecoin coverage was launched right now, signed by 20 human rights leaders from 20 completely different nations, asking the U.S Congress to contemplate the far-reaching implications of irresponsible laws. The announcement got here from Alex Gladstein, chief technique officer of the Human Rights Basis.
“We write to induce an open-minded, empathetic method towards financial instruments which are more and more enjoying a job within the lives of individuals going through political repression and financial hardship,” the letter defined. “We’re not trade financiers or skilled lobbyists however humanitarians and democracy advocates who’ve used Bitcoin to help individuals in danger when different choices have failed.”
The letter is a direct response to a different letter, just lately penned by 1500 pc scientists, software program engineers and technologists asking for “accountable” laws for bitcoin and different cryptocurrencies. The latter, nonetheless, said that the signatories disagree with any narrative claiming bitcoin or stablecoins are positively affecting monetary innovation.
“We will personally attest — as do the enclosed stories from high international media retailers — that when forex catastrophes struck Cuba, Afghanistan, and Venezuela, Bitcoin gave our compatriots refuge,” the activists’ letter argues, offering an opposing standpoint to the technologists’ letter.
The activists rightly acknowledge that most of the authors of the anti-crypto letter are from financially privileged nations with secure forex, property rights and free speech. Nevertheless, most of the activist authors from right now’s letter have a vastly completely different expertise.
“To most within the West, the horrors of financial colonialism, misogynist monetary coverage, frozen financial institution accounts, exploitative remittance firms, and an incapacity to connect with the worldwide financial system is perhaps distant concepts,” the activists defined.
This call-to-action from humanitarian thought leaders like Yeonmi Park (North Korea), Ricardo Herrero (Cuba Research Group) and Farida Nabourema (Togo) urges Congress to take a look at the empirical proof proven within the quite a few items of educational literature cited within the letter to contemplate the confirmed advantages of bitcoin and stablecoins.
Those that want to assist the letter can sign the open letter till June 14, 2022.