These human rights advocates urged Congress to learn about bitcoin (BTC) and its use for nations suffering from conflict and hyperinflation via a public letter.
A call to respond to multiple crises
The letter, titled ” Letter of support for a responsible cryptographic policy was presented to House Speaker Nancy Pelosi and Senate Majority and Minority Leaders Charles E. Schumer and Mitch McConnell, respectively.
It features personal testimonies of how bitcoin and stablecoins have been used in countries plagued by conflict, like Ukraine, or hyperinflation, like Venezuela.
“We can personally attest, as do the attached reports from the world’s top media, that when currency disasters struck Cuba, Afghanistan and Venezuela, bitcoin was a safe haven for our compatriots. When repression of civil liberties descended on Nigeria, Belarus and Hong Kong, bitcoin helped keep the fight against authoritarianism afloat. After Russia invaded Ukraine, these technologies (which critics claim are not “not made for this”) played a role in sustaining democratic resistance, especially in the early days when traditional financial systems failed“, can we read in the letter. To go further, you can read our articles on the situation ofstablecoinsin Afghanistan, and the cryptocurrency situation in Venezuela.
“Bitcoin Enables Financial Inclusion and Empowerment Because It’s Open and Permissionless“, indicates the letter.
A letter in response to another anti-crypto letter
This letter also comes in a context where many people openly criticize the evolution of the adoption of cryptocurrencies, especially in certain American states where adoption is increasingly strong.
“You recently received a different letter from a group of critics claiming that cryptocurrencies are “unproven” and a “problem-seeking” solution. Our problems are real and the proof is in our stories and our work. (…)
Unlike most people on the planet, nearly all of the anti-crypto letter writers hail from countries kicked back from stable currencies, free speech, and strong property rights. Users of dollars and euros most likely did not experience an extreme appreciation of their currency or the cold grip of a dictatorship. »
This is indeed where all the difference is played, for many people, the dollar and the euro work perfectly and they do not look for other means of payment. But for many people globally, their national currencies are completely controlled by their governments, or in other cases these currencies only have value in the country of issue and this value collapses with crises. .
Lyudmyla Kozlovska, an activist from Ukraine, said bitcoin has directly helped fundraising for soldiers in the fight against Russia.
“For me bitcoin is not just a technology. He literally saved the lives of my friends and many Ukrainianssaid Kozlovska. “Without him, we do not plan to raise funds so quickly to pay for protective equipment for soldiers in the first days of the Russian invasion.. »
Bitcoin (BTC) is a tool created to control one’s assets, but above all not to see the fruit of one’s labor collapse because of public policy or geopolitical choices. Even if bitcoin is by nature apolitical, it was created for the people and deserves to be a tool of emancipation, financial and intellectual.
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Passionate about geopolitics, economics, cryptocurrencies, Eurasia and travel! (as far east as possible), crypto-trader for 4 years.