The city of Pro-bitcoin Prosepera responds to controversy in The Guardian

The city of Pro-bitcoin Prosepera responds to controversy in The Guardian

Leaders of cities in Prospera, Honduras, a cryptocurrency-friendly charter town, have been hit back by reports that they will face backlash from residents of the nearby Crawfish Rock community over their expansion plans.

A July 5 article in The Guardian reports that the special economic zone, touted as an island paradise with low taxes and fiscal responsibility, luxury homes and crypto – friendly regulations, is being pushed back by some residents of the Crawfish Rock community area.

Some residents fear being displaced by possible Prosepera expansion plans, with the article describing the project’s headquarters being located “in a landscape separated by a bulldozer and deep holes being built for the foundations for the next phase of construction. ”

This is another salvo against the bitcoin – friendly city, which fought with the Honduran government after repealing a law on employment and economic development zones (Employment and Economic Development ZonesZEDE) in April, this law as a key element that would allow it to function as a fully autonomous zone.

However, a long Twitter thread from Prosepera and an article by Advocate General Nick Dranias on July 6 claimed that articles such as The Guardian were just another example of “a barrage of lies and misinformation.” the media.

“Unsurprisingly, given the influential nature of our project, the mainstream media has hit us with a barrage of lies and misinformation.”

Drani cites three main myths that would be spread by the mainstream media, namely:

“Myth # 1 : The Prosepera team did not socialize the project enough before it was launched.

Myth # 2 : Prosepera is an ideological / cryptocurrency / libertarian project.

Myth # 3 : In Honduras, the ZEDE Prosepera evicted the inhabitants of their land. ”

Learn the truth about Prospera ZEDE and remove the plugin from the promotion. July 6, 2022

A Prosepera representative told Cointelegraph that there was a generally positive response from the public except for a select few:

“We have a great relationship with the local community, we are the largest employer in the community and we generally work well with them. In fact, there are only two members of the public that we do not like – the media only talks about these two.

Prosepera Global also claims on Twitter that the allotment lands are environmentally friendly “free housing” construction sites that are environmentally friendly and accessible to all islanders, and that construction work is a source of income for the local community.

8 / Jeff then refers to “land rights disputes” and “displacement of local residents”. Can Jeff name a resident we moved? Of course not; this statement is false and misleading. – Prospera Global (@ProsperaGlobal) July 5, 2022

Prosepera has been in legal stalemate with the government since President Castro repealed the ZEDE law in April, which would give the project 12 months to fit into a different framework, such as a “free zone” that would offer tax cuts but no self-management to allow.

In early June, Prosepera applied for government consultations under the investment chapter of the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR), with the aim of maintaining its ZEDE status in accordance with the provisions of the European Union. the initial agreement.

Read also: Cash outflows from bitcoin exchanges are on the rise as the “not your keys, not your cryptocurrency” principle returns to vogue.

Honduras Prospera Inc. remained. firmly that their registration as a ZEDE has a valid “legal stability” for at least another 50 years due to the legal framework of the agreement it signed with the government in 2017. In a blog post published on June 4, the Mr. company notes:

“Failure to fulfill these promises, as well as unjust and unjust treatment of Honduras Próspera, would be a violation of international and Honduran law. In addition, it would send the message to the world that no foreign investment in Honduras is safe. ”

The company said it hoped to avoid “investor-state international arbitration” and hoped the government would act in “good faith” on the ZEDE primary market. The company plans to “invest hundreds of millions of extra dollars in the coming years.” In April, Honduras Prosepera Inc. $ 60 million to invest in the project despite ZEDE’s recall.

The representative added that “the government has not yet formally responded to our request for a formal consultation.”

Próspera is a private settlement in Honduras managed by Honduras Próspera Inc. The initial size of the village of Prosepera is 58 acres and includes areas for its headquarters, housing, and areas where businesses can locate. Its size may increase over time if local landowners agree to incorporate their property into ZEDE territory.

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