Human Rights Activists Call for Fair Crypto Regulations

A few days ago, a group of academics hailing from the Computer Science sector banded together. The group claimed that cryptocurrency enterprises are misleading the masses about the uses of blockchain technology and the DeFi sector. However, this time several human rights activists are teaming up to write a letter addressed to the lawmakers in the USA.

The agenda of these 21 human rights workers is to advocate for the financial liberty rights of the masses. The human rights activists believe that cryptocurrencies warrant financial autonomy to every individual, which is their fundamental right. It is worth noting that the human rights group hails from 20 countries around the world.

Since the issuance of the EO regarding the cryptocurrencies’ impact by the Biden administration, the regulatory uncertainty around cryptocurrencies has increased in the United States.

To address the matter, human rights activists are trying to open a dialogue between the regulators and the masses. In the letter, the activists have also praised the role of cryptocurrency in the transformation of the societies in their countries.

The letter also takes note of Bitcoin, claiming that it has increased financial inclusion and brought empowerment to unbanked individuals. The letter also notes that Bitcoin is an open-sourced project that is a permissionless network, and it suggests that anyone in the world can acquire and use it without any discrimination.

Role of Cryptocurrencies in Financial Autonomy

The activists working in tandem with each other on the matter of cryptocurrency advocacy have mentioned in their letter that the masses in regions like Nigeria, Argentina, and Turkey have greatly benefited from the universal access to cryptocurrencies without worrying about the issues of being severed from the international banking system.

The activists also touted the praises for cryptocurrencies emphasizing their role in the implementation of democratic freedom. The letter addressed to the legislators of the United States also acknowledges the uses of the stablecoin in the same vein.

The letter postulates that cryptocurrency investors around the world have been able to circumvent authoritarian regimes with the help of stablecoins and cryptocurrencies at their disposal. The letter also called for a fair, open-minded, and understanding approach of the lawmakers to crypto regulations.

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