As the crypto critics and naysayers try to pull the digital space down, the crypto lobbyists are working hard to change the opinions of people in authority.
Recently, anti-crypto lobbyist accumulated the signatures of 25 personalities from the tech world. This letter was forwarded to the lawmakers of the United States.
Contents of the Letter
In this letter, the critics of digital currency stated that cryptocurrencies are flawed and risky. They even referred to digital assets as digital financial instruments with no proof. The intent behind the letter was to make the legislators wary of Blockchain technology, so they can create stricter regulations for crypto assets.
This was not tolerated well by the crypto community. Many pro-crypto advocates commented against both the intention and the contents of the letter. Preston Byrne, a tech lawyer, also chipped in his opinions regarding the issue.
Critics of the Letter
After dissecting the letter, Byrne came up with solid counterarguments to debate the proponents of the letter. To begin with, Byrne clarified that the digital asset community was not interested in safe havens. Instead, they desired for certainty in regulation. Byrne even turned a little aggressive, condemning the signatories for seeking attention unapologetically.
Joining Byrne’s sentiments, Meltem Demirors from CoinShares, called the signatories “trolls” who are against crypto. Meltem Demiros is CoinShare’s Chief Strategy Officer.
Bradley Rettler, a professor of philosophy, also critiqued the letter. According to Rettler, the letter failed to support the claims it proposes to make.