Among the signatories of the letter to the US Congress are the Venezuelan opposition leader Leopoldo López and the Mexican senator Indira Kempis.
- 21 spokespersons sent a pro-cryptocurrency letter to the US Congress
- The letter defines Bitcoin as an example of “financial freedom”
- Leopoldo López and Indira Kempis are among the signatories
In the midst of the crisis in the cryptocurrency market, the measures taken in some countries and the bills that are looming in the United States, a diverse group that includes rights defenders, political leaders, officials and representatives of the international crypto community sent a letter to the United States Congress to defend cryptocurrencies and praise their role in today’s society.
The letter is addressed to members of the Senate, the House of Representatives, the Senate Committee on Agriculture, the Senate Committee on Banking, the Committee on Finance and the Committee on Financial Services. It is signed by 21 representatives of institutions or individuals from countries as diverse as Norway, Russia, Mexico, Venezuela, Cuba, the United States, Togo, Zimbabwe, Afghanistan, Ukraine, among others. In addition, the institutions that some represent are related to crypto, but others to feminist, human rights and anti-corruption movements.
The interesting thing is that one of the signatories is one of the main Venezuelan opposition leaders, Leopoldo López, exiled in Spain, and that he had not expressed his interest in crypto. There is also the Mexican senator Indira Kempis, who has advocated for Bitcoin to be legal tender in Mexico. For Cuba are José Nieves and Ricardo Herrera. These would be the four Latin American signatories.
what the letter says
We share some fragments of the letter, which begins like this:
“We are 21 human rights defenders from 20 countries around the world who have dedicated ourselves to the fight for freedom and democracy. In this fight, we have relied on Bitcoin and the dollar instruments known as stablecoins, just like tens of millions of people living under authoritarian regimes or unstable economies.
Bitcoin brings financial inclusion and empowerment because it is open and permissionless. Anyone on earth can use it. Bitcoin and stablecoins offer unprecedented access to the global economy for people in countries like Nigeria, Turkey or Argentina, where local currencies are collapsing, breaking up or cut off from the outside world.
We write to urge an open-minded and empathetic approach to the monetary tools that play an increasingly important role in the lives of people facing political repression and economic hardship. We are not industry financiers or professional lobbyists, but humanitarian and democratic advocates who have used Bitcoin to help people at risk when other options have failed.”
a letter against
alludes to a previous letter sent to Congress last week by an anti-crypto group:
”You recently received a different letter from a group of critics who claim that cryptocurrency is “unproven” and a “looking for trouble” solution. Our problems are real and the proof is in our stories and work.
We can personally attest, as well as the accompanying reports from the world’s leading media outlets, that when currency catastrophes hit Cuba, Afghanistan and Venezuela, Bitcoin gave shelter to our compatriots. When civil liberties were suppressed in Nigeria, Belarus, and Hong Kong, Bitcoin helped keep the fight against authoritarianism afloat. After Russia invaded Ukraine, these technologies (which critics say are “not built for purpose”) played a role in sustaining democratic resistance, especially in the early days when legacy financial systems failed.
Authors from first world countries
They emphatically stated that the letter against Bitcoin It was signed by representatives of first world countries with stable economies and political situations, but which do not reflect the majority of countries:
”Unlike most citizens on the planet, almost all of the authors of the anti-cryptocurrency letter come from countries with stable currencies, free speech, and strong property rights. Most likely, the users of dollars and euros have not experienced an extreme devaluation of the currency or the cold control of the dictatorship. For most in the West, the horrors of monetary colonialism, misogynistic financial policy, frozen bank accounts, exploitative remittance companies, and an inability to connect with the global economy may be distant ideas. For most of us and our communities, and for most people around the world, they are daily realities. If there were “much better solutions already in use” to overcome these challenges, we would know about it.”
The advocacy group Bitcoin He goes on to say in the letter:
“We do not claim that Bitcoin and stablecoins solve all problems, or that they are completely positive or risk-free. But in contrast to the claims made by the authors of the anti-crypto letter, Extensive evidence suggests that Bitcoin has and will continue to empower Americans and citizens of the world for the next decade, and that, along with stablecoins, this open and decentralized monetary network will help challenge tyranny and strengthen democratic movements abroad.
Most of us dream that our fellow citizens can have access to the dollar or euro systems. But they do not. Bitcoin may not be our plan A, but amid the failings of legacy financial systems, it is a valuable plan B as a bridge to the global economy and as a counterpart to the Chinese Communist Party’s surveillance and control model. Stating that the practical value and future potential of cryptocurrencies “does not exist” negates the lived experience of millions of people like us and our colleagues who have relied on Bitcoin and stablecoins in times of crisis and autocracy.”
Ask to investigate more
The signatories, finally, ask congressmen to investigate before making decisions:
“We strongly recommend that the committees addressed in this document investigate and explore the global value of these technologies, their empirically proven benefits to millions of people, and their potential. The cryptocurrency industry is no doubt riddled with scams, but the solution is not to combine really useful fintech tools with harmful crypto schemes. Instead, it’s to teach people how to tell the difference. It is very easy to distinguish Bitcoin and the larger stablecoins, which make up the vast majority of daily cryptocurrency volume and the total global market capitalization, as valuable technologies that have an impact around the world. We hope that you and your colleagues will not make or implement policies that undermine our ability to use these new technologies in our human rights and humanitarian work.
Just as some of us have acted to defend the open web in the past, today we defend an open monetary system. Until now, many of us have been forced to have broken coins as our rulers prevented us from accessing dollars. We have paid the price of exorbitant international money transfers. We have seen how our dictatorial leaders from Beijing to Moscow tried to ban Bitcoin. We hope you will choose a different political path, one that allows us to save, connect and gain freedom.“.
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