On the heels of an open letter that was purportedly delivered to Congress on behalf of the scientific community but whose principal signatories included well-known authors and crypto opponents from democratic countries with high revenues, this letter appears only a week later.
North Korea, Cuba, Venezuela, Nigeria, Iraq, Russia, and the Ukraine are just a few of the countries represented by the group of 21 activists, many of which have recently experienced violence or have shaky economies. Those who participated in the letter stated that they would like to see a more compassionate and open-minded attitude toward monetary tools that are increasingly being used to help those who are in need of financial assistance or political oppression.
It further says that the signatories have relied on stablecoins and Bitcoin to achieve democracy and freedom, as have millions of other individuals living under tight government regulations or in unstable economic environments.
When a country's currency is devalued or removed from the global market, citizens living in that country can get access to the global economy through stablecoins and Bitcoin, as outlined in a letter. Following this, the article went on to say that the use of cryptocurrency helped in the fight against authoritarianism during the Russian invasion of Ukraine in February of this year.
An anti-crypto letter submitted on June 1st with the support of 1,500 computer experts and scientists was also discussed in this letter, which asked Congress not to develop regulations that would allow dangerous, unproven, and faulty digital financial technologies to thrive in the United States. In addition to Stephen Diehl and Molly White, David Gerard also signed the letter.
The anti-crypto letter's authors, according to human-rights campaigners, come from countries with stable currencies, robust property rights, and probably never experienced hyperinflation or totalitarianism's rigid grip. With this letter's final paragraph, the letter requested that the government not enact or create any policy that would hinder humanitarian use of these new technology.