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Human Rights Leaders Urge Congress to Take 'Open-Minded' View on Bitcoin
Human rights activists have urged Congress to learn about bitcoin and its use in nations suffering conflict and hyperinflation.
A letter detailing the utility of bitcoin and stablecoins for people facing political repression and economic hardship has been sent to the U.S. Congress by 20 human rights activists.
- The letter was addressed to the likes of House of Representatives Speaker Nancy Pelosi and both the Majority and Minority Leaders of the Senate, Charles E. Schumer and Mitch McConnell, respectively.
- It outlines personal accounts of how bitcoin and stablecoins have been used by people in nations suffering conflict, like Ukraine, as well as those bit by hyperinflation, such as Venezuela.
- "When currency catastrophes struck Cuba, Afghanistan, and Venezuela, Bitcoin gave our compatriots refuge," the letter states. "When crackdowns on civil liberties befell Nigeria, Belarus, and Hong Kong, Bitcoin helped keep the fight against authoritarianism afloat."
- Lyudmyla Kozlovska, a Ukrainian activist, said bitcoin has directly assisted in fundraising for soldiers in the fight against Russia.
- "For me, Bitcoin is not just technology. It has literally saved the lives of my friends and many Ukrainians," Kozlovska said. "Without it, we would not have been able to raise money so quickly to pay for protective equipment for soldiers in the early days of the Russian invasion."
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
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Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
