The increase of crypto lobbyists recently sparked an effort from anti-crypto individuals in the tech space to urge regulators through a letter to resist the influence of blockchain advocates. In response, the crypto community criticized the move and laid out counterarguments against the contents of the letter.
Signed by 26 tech personalities, the letter sent to United States lawmakers described crypto assets as “risky, flawed and unproven digital financial instruments.” It expressed disagreements about the potential of blockchain technology and has urged the regulators to create harsher regulations for cryptocurrencies.
The crypto community did not stay silent as many reacted and expressed their disagreements with the letter and its contents. Tech lawyer Preston Byrne also gave his take on the issue. In a blog post, Byrne dissected the letter and provided counterarguments to the claims made by its signatories.
According to the attorney, the crypto community does not want a “safe...
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