ArmInfo.The non-profit Web3 Armenia Foundation has issued an appeal regarding the draft law on the cryptosphere approved by the government. The statement from the Web3 Armenia Foundation's contains the full text of the appeal:
"We urge the RA NA factions to vote against the government's approved draft law on the cryptosphere. Despite the warnings of the crypto community in Armenia, the Armenian government proceeded with the law proposed by the Central Bank to regulate the sector. We express our deep disappointment in this regard, as we have consistently tried to communicate our perspective to decision makers. We reiterate that the Central Bank serves the interests of other structures, not the interests of Armenia as a whole.
If passed, this law will: - Armenia's digital sovereignty will suffer; - Armenia will lose its promising positions in the blockchain market, which is considered the technology of the century; - Opportunities for innovation will increase with the use of blockchain technologies; - Citizens will suffer losses in favor of banks; - Investors will leave Armenia, and no new international investments will be registered," the Web3 Armenia Foundation's statement says.
In conclusion, the Web3 Armenia Foundation urges the factions of the National Assembly of the Republic of Armenia to vote against the bill: "And first of all, proceed from the interests of our state and citizens. The ball is in your court, make a decision in favor of the state. We are ready to provide free professional advice on this matter to any faction and MP."
Let us clarify that the Web3 Armenia Foundation is an independent think tank, unites Web3 pioneers, enthusiasts, startups, developers and technologists. The Foundation's platform empowers through knowledge-sharing, networking and collaboration, leveraging Web3 technologies. Focus areas: attracting investors, fostering partnerships, and showcasing Armenian Web3 talents. Web3 is a concept for the next generation of the Internet based on blockchain, enabling decentralization. The main difference between Web3 and Web2.0 is the shift towards decentralization, where users have ownership and control over various Internet resources, instead of relying on large monopolistic services. The term was first introduced by Ethereum co-owner Gavin Wood in 2014, and has gained traction since 2021 among cryptocurrency enthusiasts, major tech companies, and venture capital firms.
