A group of 20 human rights activists from 20 different countries have written an open letter to the U.S Congress in support of ‘responsible crypto policy’.
The open letter was released yesterday, and requested the U.S Congress to think over the extensive consequences of irresponsible legislation. The letter also recognized the crypto’s part in countering “monetary colonialism” worldwide.
In Brief:
- This letter stated that the signatories do not claim bitcoin or stablecoins are entirely positive or without risks.
- It read that the signatories are democracy advocates who have used Bitcoin to help people at risk when other options have crashed.
- The letter is a response to another letter written by 1500 technologists for “responsible” legislation for bitcoin and other cryptocurrencies.
A tweet from Alex Gladstein, chief strategy officer of the Human Rights Foundation disclosed the gist of the letter.
The letter explained, “We write to urge an open-minded, empathetic approach toward monetary tools that are increasingly playing a role in the lives of people facing political repression and economic hardship.”
It further read that the activists are neither industry financiers nor professional lobbyists but ‘democracy advocates’ who have resorted to Bitcoin to help people at risk when other options have crashed.
It is worth noting that this letter is a direct response to another letter which was submitted on June 1 by 1500 computer scientists, engineers and technologists urging for “responsible” legislation for bitcoin and other cryptocurrencies.
However, the recent open letter stated that the signatories do not endorse any narrative claiming ‘bitcoin or stablecoins are entirely positive’ or ‘without risks’.
In a response to the technologists’ letter, the activists wrote, “We can personally attest — as do the enclosed reports from top global media outlets — that when currency catastrophes struck Cuba, Afghanistan, and Venezuela, Bitcoin gave our compatriots refuge.”
The activists justly accepted that many of the authors of the ‘anti-crypto’ letter belong to wealthy countries with stable currency, property rights and freedom of speech.
Meanwhile, many of the activist authors from the recent letter have an entirely different experience.
The humanitarians claimed that for many people in the West, idea like the terror of financial colonialism, misogynist financial regulations, frozen bank accounts might be too distant.
Additionally, according to the humanitarians ‘exploitative remittance firms, and the inability to link to the global economy’ might be an alien thing to experience for westerners.
The letter urges Congress to refer to the empirical evidence from several academic literature studies which has been cited in the letter too for understanding the proven advantages of bitcoin and stablecoins.
The letter ends with the hope that a different policy may save, connect, and gain freedom through an open monetary system.
Some of the signatories of the letter include Yeonmi Park (North Korea), Farida Nabourema (Togo) and Ricardo Herrero (Cuba Study Group).
One can support the letter by signing on it till June 14, 2022.
Also read: New York State Senate Passes a Bill to Ban Crypto Mining
