Human rights advocates champion Bitcoin as financial inclusion and empowerment tool in letter to US Congress

What

21 human rights advocates from across the world have sent a letter to the U.S. Congress defending Bitcoin’s position as a tool for financial inclusion and empowerment

Why

The advocates claim the open letter is in response to claims contained in another letter to the U.S. Congress that was authored by opponents of Bitcoin

What next

Concluding their letter, the human rights defenders said the U.S. Congress leaders must continue to investigate the value of these technologies

The story

In an open letter to the US Congress, human rights defenders from 20 countries have stressed the benefits of Bitcoin as a tool for financial inclusion and empowerment.

In the letter, the advocates stress that Bitcoin “provides financial inclusion and empowerment because it is open and permissionless” and alongside other digital currencies offers “unparalleled access to the global economy” for people from countries whose currencies are devalued.

In addition to this argument, the advocates rebut claims raised by around 1,500 computer scientists, software engineers and technologists who oppose Bitcoin. A call was made for lawmakers not to give in to pressures from crypto lobbyists, arguing that they seek “to create a regulatory safe haven for these risky, flawed, and unproven digital financial instruments.”

Addressing these claims made by the scientists in their open letter, the human rights defenders said they know for a fact that cryptocurrencies have made a difference in countries devastated by natural disasters.

The group concluded their letter urging lawmakers to consider policies that don’t “hurt their ability to use these new technologies in their human rights and humanitarian work.”

To learn more about Bitcoin, visit our learning portal here.

Did you find this useful?
9
0