Yeonmi Park, a well-known North Korean defector and activist, has petitioned the United States Congress to be open-minded when it comes to Bitcoin and stablecoin laws. She argues, along with 19 other human rights activists from across the globe, that such instruments may help deliver financial independence to those who need it the most.
The activists said in their letter published on Tuesday that they, like tens of millions of others living under authoritarian regimes, had depended on Bitcoin and stablecoins in their “fight for freedom and democracy.”
“Because Bitcoin is open and permissionless, it enables financial inclusivity and empowerment,” the group explained. The company claims that, when combined with stablecoins, these technologies provide economic independence for countries with collapsing or isolated currencies, such as Nigeria, Turkey, and Argentina.
Stablecoins are cryptocurrencies whose value is tied to traditionally stable fiat currencies like the US dollar. Many investors see Bitcoin, although far more volatile in comparison, as having a fixed supply, which many investors see as a long-term inflation hedge.
Given their use, the activists urge an “open-minded” and “empathetic” attitude towards these monetary instruments.
“We are not industry financiers or professional lobbyists, but humanitarians and democracy activists who have utilised Bitcoin to aid those in need when other choices have failed,” the organisation states.
