Human rights groups from across the globe have sent an open letter to U.S. legislators in favour of Bitcoin.
In a letter to members of Congress, a group of human rights advocates from 20 nations said that Bitcoin empowers people in countries where “native currencies are crumbling.” Leading engineers have warned Congress about crypto’s hazards and lobbying attempts to make digital assets more widely available.
In order to avoid the regular banking system, human rights activists claimed to have used Bitcoin and stablecoins. Authoritarian governments and unstable economies have prompted “tens of millions” of people to resort to cryptocurrency, as noted in the letter.
According to the letter: Because Bitcoin is open and permissionless, it promotes financial inclusion and empowers those who lack access to traditional financial institutions. Humanitarians and pro-democracy activists, not industry financiers or lobbyists, have utilised bitcoin to help those in need when all other avenues have failed.
Digital assets have become a favoured alternative to fiat currencies in Nigeria, Turkey, and Argentina, according to a letter from the International Monetary Fund (IMF).
The Human Rights Foundation’s top strategy officer, Alex Gladstein, was one of the letter’s writers, and he lambasted the request by technologists to have Congress clamp down on cryptocurrency. “It’s interesting to notice that 23 out of 25 of the technologists who issued the anti-crypto warning were either American or European,” Gladstein said.
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