Human rights activists from 20 countries have submitted an open letter to the United States Congress in support of a “responsible crypto policy” and praising Bitcoin and stablecoins as essential tools aiding democracy and freedom for tens of millions.
The letter comes just a week after an anti-crypto open letter was sent to Congress purporting to be from the scientific community but whose lead signatures included well known crypto critics and authors from high income, democratic countries.
The group of 21 activists clapping back include those from countries which have either seen recent conflict or have otherwise unstable economies such as Ukraine, Russia, Iraq, Nigeria, Venezuela, Cuba and even North Korea. The letter states:
“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.”
They add they are humanitarians and advocates of democracy who have used Bitcoin (BTC) to assist at risk people “when other options have failed” and wish to defend an open monetary system.
The group says they have also relied on Bitcoin and stablecoins in the “struggle for freedom and democracy”and that “tens of millions of others” living under authoritarian regimes or in volatile economies also use cryptocurrencies for the same reason.
“Bitcoin and stablecoins offer ungated access to the global economy for people in countries like Nigeria, Turkey, or Argentina, where local currencies are collapsing, broken, or cut off from the outside world.”
The group provided multiple instances from around the world of how cryptocurrencies are assisting people, citing examples from Cuba, Afghanistan, Venezuela and Nigeria which have all seen high crypto adoption due to inflation or lack of proper financial infrastructure.
Cryptocurrencies further “helped keep the fight against authoritarianism afloat” the group added, providing an example of the role crypto played when financial systems broke down after the Russian invasion of Ukraine in February 2022.
Related: Crypto seen as the ‘future of money’ in inflation-mired countries
The activists took aim at “the anti-crypto letter” addressed to Congress on June 1 supposedly backed by 1,500 computer scientists and engineers that called on Congress to avoid creating a “regulatory safe haven for these risky, flawed, and unproven digital…
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