CRYPTOLOBBY REPRESENTS THE INTEREST OF PEOPLE VS BANKING INSTITUTIONS
The promise of cryptocurrency is an honest, safe, free/inexpensive way for anyone to transact value anywhere in the world without a government or bank. Regulation of cryptocurrency is a human rights and free speech issue that has emerged with the blockchain paradigm shift — honest and unique digital assets. Because Wall Street and the banking industry can be utterly shut out by transactions involving bitcoin and other crytpocurrencies, billions of dollars have been invested to lobby governments to limit people’s access through onerous legislation and even criminalization.
Excessive regulation impedes free communications between people and slows innovation. The conflicting state-by-state legislation and regulatory barriers to free and open exchange are hindering humanity’s attempt to collectively adopt a decentralized monetary supply, not controlled by a corporation or a nation.
Freedom of speech and other political freedoms are often squashed when access to the money supply is blocked, simply because it sometimes costs money to reach other people so they can make informed voter decisions. Cryptocurrency can be defined as a ‘communication of private and public keys,’ and therefore is an expression of the basic human right to communicate with one another and make simple transactions without first involving a nation-state or paying a toll to a corporation.
The success of bitcoin and other cryptocurrencies promises to disrupt the power of nation-states and banking institutions to dominate, regulate and control the monetary system. Loss of economic control and decentralization of monetary controls is at the heart of billions of dollars of lobbying investments generating regulations to limit the utility of cryptocurrency. An example of a banking industry funded regulatory roadblock is New York’s BitLicense, a business license of virtual currency activities issued by the New York State Department of Financial Services (NYSDFS). The result of New York’s enactment of the BitLicense was an exodus of innovative cryptocurrency business.
By lobbying, corporations and banking institutions use their billions of dollars in lobbying power to change laws to favor them and their profits. Banking institutions are not willing to lose economic control. Decentralization of monetary controls threatens the power of those who control the money supply, so they are investing billions of dollars of lobbying investments generating regulations to limit the utility of cryptocurrency. CryptoLobby is an attempt to provide materials to assist human beings to use their collective power to change laws to favor them and their human right to exchange value with one another and to privately communicate. While Cryptolobby is just the personal project of one attorney, individuals can empower themselves to lobby their own legislatures and educate their own communities. Additionally, several very effective nonprofit 501(c)4 organizations have emerged to protect cryptocurrency from bad protectionist Wall Street legislation. Advocacy groups in Washington such as Coin Center Inc., Bitcoin Foundation and the Chamber of Digital Commerce have been working on issues such as de minimis tax exemptions and protecting innovation. Probably the most effective way to help the cryptocurrency movement is to actually use it — not just hodl but spend — the value of the currency is ultimately tied to its usefulness.
CryptoLobby advocates for the potential human benefit achieved by access to cryptocurrency, and the freedom to exchange value between people without censorship and without relying on the currency of a nation-state or corporation.
Why Crypto Needs a Lobby by MonaLisa Wallace, Esq. is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
Based on a work at https://cryptolobby.com.