Vitalik Buterin Warns Against Choosing Political Allegiances Based on ‘Pro-Crypto’ Stance

Vitalik
Buterin,
co-founder
of
Ethereum,
has
issued
a
cautionary
message
to
the
crypto
community,
urging
them
to
avoid
choosing
political
allegiances
solely
based
on
a
candidate’s ‘pro-crypto’
stance.
In
a
detailed
blog
post,
Buterin
highlights
the
potential
risks
of
such
a
narrow
focus,
emphasizing
the
importance
of
broader
technological
freedoms
and
underlying
values
that
originally
inspired
the
crypto
movement.

Crypto’s
Political
Landscape

According
to
Buterin,
the
past
few
years
have
seen ‘crypto’
become
a
significant
topic
in
political
policy,
with
various
jurisdictions
considering
bills
to
regulate
actors
in
the
blockchain
space.
This
includes
the
Markets
in
Crypto
Assets
regulation
(MiCA)
in
the
EU
and
efforts
to
regulate
stablecoins
in
the
UK.
In
the
United
States,
the
SEC’s
regulatory
actions
have
also
been
noteworthy.

Buterin
acknowledges
that
many
of
these
bills
are
reasonable
but
expresses
concerns
about
extreme
measures,
such
as
treating
most
cryptocurrencies
as
securities
or
banning
self-hosted
wallets.
He
notes
a
growing
trend
within
the
crypto
space
to
support
political
parties
and
candidates
based
solely
on
their
leniency
towards
crypto
regulations.

Beyond
Cryptocurrency

Buterin
argues
that
the
focus
on ‘pro-crypto’
stances
risks
undermining
the
broader
values
that
brought
people
into
the
crypto
space.
He
points
out
that
the
original
inspiration
for
crypto
came
from
the
cypherpunk
movement,
which
advocated
for
free
and
open
technology
to
protect
individual
freedoms.
This
ethos
is
broader
than
just
cryptocurrency
and
blockchains,
encompassing
issues
like
encrypted
messaging,
digital
identity,
and
privacy.

He
emphasizes
that
the
right
to
spend
money
privately
and
the
ability
to
issue
tokens
are
important
but
should
not
overshadow
other
technological
freedoms.
Buterin
cites
the
importance
of
freedom
and
privacy
of
communication,
privacy-friendly
digital
identity,
freedom
of
thought,
and
high-quality
access
to
information
as
equally
foundational
to
the
crypto
ethos.

Internationalism
and
Crypto

Buterin
underscores
the
importance
of
internationalism,
a
cause
dear
to
many
in
the
cypherpunk
community.
He
highlights
that
cryptocurrency
has
the
potential
to
flatten
the
global
economy
by
extending
financial
freedoms
to
people
worldwide.
However,
he
cautions
that
supporting
politicians
who
are ‘pro-crypto’
but
fail
to
demonstrate
a
commitment
to
internationalism
and
broader
freedoms
could
be
counterproductive.

He
shares
personal
anecdotes
from
events
like
EthCC,
where
visa
accessibility
issues
prevented
some
participants
from
attending,
emphasizing
that
immigration
law
is
crucial
for
the
international
crypto
community.

Long-Term
Considerations

Buterin
advises
looking
at
a
politician’s
long-term
stance
on
crypto
and
related
topics.
He
suggests
examining
their
views
from
five
years
ago
and
considering
how
their
positions
might
evolve.
He
warns
that
some ‘pro-crypto’
politicians
might
prioritize
acceleration
over





decentralization,
potentially
leading
to
a
divergence
of
goals
within
the
crypto
space.

The
Authoritarian ‘Pro-Crypto’
Stance

Buterin
also
cautions
against
the ‘pro-crypto’
stance
common
among
authoritarian
governments.
He
cites
Russia’s
dual
approach
of
using
crypto
to
evade
external
restrictions
while
imposing
strict
controls
on
domestic
use.
He
warns
that
politicians
who
are
power-seeking
or
willing
to
align
with
authoritarian
figures
could
adopt
similar
strategies,
ultimately
undermining
the
freedoms
that
crypto
aims
to
protect.

Assessing
Political
Support

Buterin
concludes
by
urging
the
crypto
community
to
assess
politicians’
broader
values
and
vision
for
the
future,
rather
than
just
their
stance
on
crypto.
He
stresses
the
importance
of
supporting
candidates
who
align
with
the
deeper
goals
of
technological
freedom
and
decentralization,
rather
than
those
who
merely
offer
short-term
benefits
for
the
crypto
industry.

For
the
full
article,
visit

Vitalik
Buterin’s
blog.

Image
source:
Shutterstock