Amid Falling Cryptocurrency Prices, Crypto Haters And Critics Want To Hold An Anticrypto Symposium

JAKARTA - In the midst of a slumping crypto market, these industry and asset class haters have come together to share their skepticism and networks with lawmakers at their own anti-crypto conference.

While most crypto conferences are held to promote the latest developments on the cutting edge of the industry, crypto journalist and critic, Amy Castor, said in her blog post Sunday, July 3, that the Crypto Policy Symposium promises a way for disgruntled naysayers to voice their negativity.

Author and symposium organizer Stephen Diehl explained to Castor that this first major anti-crypto event aims to give the community a way to talk directly to policymakers about how their crypto industry should be handled.

“The main purpose of the symposium, as Diehl explained to me, is to provide policymakers with access to the information and materials they need to make informed decisions around crypto regulation,” Castor said as quoted by Cointelegraph.

A common perception among skeptics like Castor and crypto advocates is that government officials don't have a solid basic understanding of how crypto works.

As Castor notes, government officials are “very underinformed.” The similarities may end there as proponents will tout the benefits of technology and industry.

Instead, skeptics will point out the downsides, such as what Castor calls “the domino collapse of today's DeFi.”

Castor complained primarily to policymakers that only hearing from “deep-pocketed crypto companies with lots of venture capitalist backing” could skew their policy decisions.

Despite his assessment, it still appears to be quite difficult for the crypto industry to move forward in many jurisdictions, such as New York State, where the Bitcoin (BTC) mining ban continues to loom.

In China, where mining and crypto transactions are banned, and in Australia, where crypto financial services remain frozen by regulators, progress has also been slow or non-existent.

Members of government financial and regulatory bodies from the United States and Europe have also been invited to attend the event. However, it is unclear whether any government officials have been confirmed as guests. Only journalists, software engineers and various professors were confirmed as speakers at the anticrypto symposium. The symposium will take place in London and will be broadcast live on September 5 and 6.