Statement: Fight for the Future calls for Biden administration to center human rights and consumer protection as it studies crypto markets

March 10, 2022

The following statement can be attributed to Lia Holland (she/they), Campaigns & Communications Director at Fight for the Future:

“This week’s executive order shows that the Biden administration is taking a measured approach towards regulating digital assets. A study-based approach is essential when the technologies under evaluation are complex and rapidly evolving. We’ve seen many examples of cryptocurrency’s benefits and drawbacks, and hope that these studies lead to recommendations that protect human rights and center the needs of communities who have been failed by traditional finance and Big Tech.

We applaud the administration for highlighting the importance of human rights, privacy, and consumer protection in the executive order. Surveillance capitalism is anathema to human rights and dignity, and the government should not be supporting the incursion of surveillance into additional technologies, like cryptocurrency. We think the executive order has outlined appropriate safeguards to these ends, and privacy protections must be a cornerstone in any future attempt at a digital dollar as well. Fortifying consumer privacy is especially important considering the recently exposed financial surveillance program orchestrated by ICE.

Like many, we are appalled at ICE’s surveillance of low income and immigrant communities for simply using wire transfer services. It is important that the government does not expand surveillance into digital assets, and preserves or even enhances the privacy aspects of this emerging technology. Hopefully this executive order is a signal that these protections will be the focus of the administration.”