Bitcoin-friendly Próspera returns to discussions in The Guardian

The leadership of the crypto-friendly charter city of Próspera in Honduras has responded to reports that it is facing a backlash from residents of the neighboring Crawfish Rock community over its expansion plans.

An article from The Guardian on July 5 reported that the special economic zone, touted as an island paradise with low taxes/liability, luxury homes and crypto-friendly regulations, has received backlash from some residents of the Crawfish Rock community.

Some residents are reportedly worried about leaving their homes due to Próspera’s potential expansion plans, and the article describes the project’s headquarters as sitting “in the middle of a bulldozer-scarred landscape of deep pits dug for the foundation of the next construction phase.”

This is another salvo against the Bitcoin-loving city, which has been battling the Honduran government after it repealed the Employment and Economic Development Zones (ZEDEs) law in April. self-governing fully autonomous region.

But a lengthy Twitter post from Próspera and a July 6 article by general counsel Nick Dranias claimed that articles like the one in The Guardian were another example of “a barrage of lies and misinformation from the mainstream media.”

“Not surprisingly, given the impactful nature of our project, we were faced with a slew of lies and misinformation from the mainstream media.”

Drani summarizes three key myths allegedly spread by the mainstream media:

Myth #1: The Próspera team did not sufficiently socialize the project prior to launch.

Myth #2: Próspera is an ideological/crypto/libertarian project.

Myth #3: In Honduras, Próspera ZEDE confiscated land from local people.”

A Próspera representative told Cointelegraph that the reaction from the community in general has been positive, but a few select ones:

“We have a great relationship with the local community, we are the community’s largest employer and generally work well with them. In fact, only two members of the community don’t like us – the media always only talks to these two.”

Próspera Global also claims on Twitter that the so-called bulldozer-scraped lands are building sites for eco-friendly “low-cost housing for every islander,” and that the construction works serve as a source of employment for the local community.

It has been locked in a legal standoff with the government since President Castro repealed the ZEDE law in April, which would give the project 12 months. Management.

At the beginning of June, Próspera filed a request for government consultations with the aim of maintaining ZEDE status under legal terms under the Investment Section of the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR). first deal.

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Honduras Próspera Inc. remained adamant that its registration as ZEDE would have “legal stability” valid for at least another 50 years, due to the legal framework of the agreement it signed with the government in 2017. In a June 4 blog post, the firm noted:

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

The company said it hoped to avoid “international investor-government arbitration” and hoped the government would act in “good faith” on the initial ZEDE agreement. The firm plans to “invest hundreds of millions more in the coming years,” and in April Honduras Próspera Inc. raised $60 million to invest in the project despite the repeal of ZEDE.

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

Honduras Próspera Inc. in Próspera, Honduras. It is a privately managed settlement managed by Próspera Village has an initial size of 58 acres and includes its headquarters, residences and areas where businesses can be established. Its size could grow over time if local landowners agree to integrate their properties into ZEDE lands.