Written by Jeremy Fletcher | April, 12 2023
Residents of The United States of America can use the letter below as a template, that you can easily copy and send off to your Senators, instructing them to be sensible and protect financial innovation in the United States.
You can find your U.S. representatives contact information here: https://www.senate.gov/senators/senators-contact.htm
—–
Dear Members of Congress,
I am writing to express my concern about the potential stifling of innovation in the field of cryptocurrency. As you are no doubt aware, cryptocurrency has emerged as a powerful tool for conducting secure, peer-to-peer transactions across borders and without the need for intermediaries such as banks. This has the potential to revolutionize the financial system and provide greater access and financial inclusion to millions of people worldwide.
However, I am concerned that some proposed regulations and laws may stifle innovation and hinder the growth of this exciting new industry. While it is certainly important to protect consumers and prevent fraud and abuse, we must also be careful not to overregulate and stifle innovation. Digital exchanges where people can trade cryptocurrencies and sell crypto into dollars, are a vital part of this technological advancement and it shames me to see cutting edge companies such as Bittrex, originally based out of Seattle Washington, shut down their US based operations.
Cryptocurrency is still in its infancy and is constantly evolving. We must allow the industry to grow and innovate, and not impose burdensome regulations that could stifle this growth. Instead, we should work together to create a regulatory environment that encourages innovation while also protecting consumers.
I urge you to take a measured approach to regulating the cryptocurrency industry. We need smart, sensible regulations that balance innovation with consumer protection. Please do not stifle the growth of this exciting new industry with overly burdensome regulations.
Thank you for your consideration.
Sincerely,
###