Twenty human rights advocates addressed a letter to the US Congress outlining the benefits of bitcoin and stablecoins for persons experiencing political repression and economic hardship.
The letter was written to Nancy Pelosi, the Speaker of the House of Representatives, Charles E. Schumer, the Senate Majority Leader, and Mitch McConnell, the Senate Minority Leader. It describes how bitcoin and stablecoins have been utilized by individuals in countries experiencing violence, such as Ukraine, and countries experiencing hyperinflation, such as Venezuela. According to the letter, when financial crises hit Cuba, Afghanistan, and Venezuela, Bitcoin provided a haven for our countrymen ". "When civil freedoms were curtailed in Nigeria, Belarus, and Hong Kong, Bitcoin aided the battle against dictatorship. According to Lyudmyla Kozlovska, a Ukrainian activist, Bitcoin has directly administered the funding for soldiers fighting Russia. Bitcoin isn't simply a piece of software for me. It has saved my friends' and several Ukrainians' lives, "According to Kozlovska.
"We might not have been able to gather funds as swiftly without that in the early days of the Russian invasion to pay for safety clothing for soldiers. Many CoinDesk workers, including editorial staff, may earn DCG ownership in stock appreciation rights, which typically vest over a multi-year period, as part of their pay. Threedium, Metaloop, MetaTokyo Faith Tribe, and other currencies have all suffered comparable losses due to the economic crisis. CoinDesk is a media outlet that works for the best journalistic standards and adheres to a strict editorial norm.