- Vitalik Buterin urges caution in choosing politicians based solely on pro-crypto stances, emphasizing broader values alignment.
- Buterin warns that narrow political focus on crypto could undermine core values of the cryptocurrency movement.
Ethereum co-founder Vitalik Buterin recently expressed reservations about the growing inclination to support politicians based solely on their pro-crypto stances. He articulated these concerns in a blog post, emphasizing the need for a broader focus that transcends just crypto-friendliness in politics.
Against choosing your political allegiances based on who is "pro-crypto"https://t.co/rEbRjZYtFB
— vitalik.eth (@VitalikButerin) July 17, 2024
Buterin’s caution stems from observations of the political sector where the appeal of cryptocurrencies has seemingly become a decisive factor for some voters. He suggests that such a narrow focus could potentially contradict the foundational values of the cryptocurrency movement.
Notably, various global regions, including the European Union and the United Kingdom, have been integrating crypto regulations into their policy frameworks, such as the EU’s Markets in Crypto Assets (MiCA) regulation and the UK’s regulation of stablecoins.
I agree that there is an important battle to be fought here: in order to do anything significant in the modern world, you need money, and so if you can shut down anyone’s access to money, you can arbitrarily shut down your political opposition. – Vitalik
These efforts reflect a growing acknowledgment of crypto’s relevance but also pose risks of stringent measures like classifying most cryptocurrencies as securities or prohibiting self-hosted wallets.
Drawing on the ethos of the cypherpunk movement, which predates today’s cryptocurrency technologies, Buterin reminds enthusiasts that the movement championed not only financial liberation but also broader technological and personal freedoms. This includes opposing restrictive copyright laws and promoting decentralization in various domains, not just in finance.
Buterin’s reflections extend to other vital technological freedoms such as communication privacy, the use of privacy-friendly digital identities, and access to unbiased information. He asserts that these freedoms are integral and should be pursued with the same vigor as financial freedom within the crypto space.
Concluding his argument, Buterin warns that blind allegiance to politicians claiming to support crypto without a comprehensive evaluation of their broader values and policies might lead to unintended consequences.
“…If you see a politician being crypto-friendly, one thing you can do is look up their views on crypto itself five years ago. Similarly, look up their views on related topics such as encrypted messaging five years ago. Particularly, try to find a topic where “supporting freedom” is unaligned with “supporting corporations”; the copyright wars of the 2000s are a good example of this. This can be a good guide on what kinds of changes to their views might happen five years in the future…” – Vitalik Buterin
He stresses the importance of aligning with leaders whose overall values and actions resonate with the core principles of the crypto community, thereby fostering a balanced approach to political support within the crypto sphere.
