Bitcoin-friendly Prospera strikes back at controversy in The Guardian

Bitcoin-friendly Prospera strikes back at controversy in The Guardian – Mail Bonus


The leadership of the crypto-friendly charter city of Honduras, Prospera, has announced that it is facing a setback from the neighboring community of Crawfish Rock due to its expansion plans.

An article from The Guardian on July 5 reported the special economic zone, described as a paradise on a low-tax / tax-guaranteed island, luxury homes and crypto-friendly regulations, which has seen a return from some Crawfish Rock community.

Some residents are reportedly worried about fleeing their homes due to possible expansion plans for Prospera, where the article describes the project’s headquarters as “sitting in a landscape cut by bulldozers and deep holes dug for the foundation of the next construction phase.”

This is yet another aid against the Bitcoin-loving city, which has been fighting the Honduran government after repealing the Employment and Economic Development (ZEDEs) legislation in April, which was a key piece of legislation that would allow it to operate as a full-fledged autonomous government. autonomous region.

However, a long Twitter thread from Prospera and an article by Nick Drania’s chief lawyer on July 6 claimed that articles such as the one from The Guardian were just another example of a “wave of lies and misinformation from the mainstream media.

“It is not surprising, given the influential nature of our project, that we have faced a wave of lies and misinformation from the mainstream media.

Drani describes three main myths that are said to be spread by the mainstream media, including:

Myth # 1: The prosthetic team did not present the project well enough before it started.

Myth # 2: Prospera is an ideological / crypto / liberal project.

Myth # 3: In Honduras, the Prospera ZEDE land was expropriated by locals.

A representative of Prospera told the Cointelegraph that in general the response from the community was positive except for a select few:

“We are in a great relationship with the local community, we are the community’s largest employer and we generally work well with them. In fact, only two members of society like us – the media just always talk to these two individuals. “

Próspera Global also claims on Twitter that the bulldozers that have been scrapped are construction sites for environmentally friendly “low-cost housing that is available to all islanders,” where the construction work serves as a source of employment for the local community.

Prospera has been embroiled in a legal dispute with the government since President Castro repealed the ZEDE law in April, which would give the project 12 months to register under another framework such as the “Free Zone” which would offer tax cuts but not allow itself . governance.

In early June, Prospera requested a government consultation under the Dominican Republic-Central America-US Free Trade Agreement (CAFTA-DR) Investment Chapter, in order to maintain its ZEDE status under the terms of the agreement. initial agreement.

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Honduras Prospera Inc. has maintained that its registration as ZEDE has been 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 on June 4, the company noted that:

“Failure to comply with these obligations would constitute a violation of international and Honduran law, as well as the wrong and unfair treatment of Honduran Prospera. In addition, it would send a message to the world that no foreign investment in Honduras is safe.

The company said it hoped to avoid an “international investor and state arbitration” and hoped the government would respond in “good faith” to the original ZEDE agreement. The company plans to “invest hundreds of millions of dollars more in the coming years,” and in April, Honduras collected Prospera Inc. $ 60 million to invest in the project despite the cancellation of ZEDE.

The representative added that the government is “still formally responding to our request for public consultation”.

Prospera is privately owned in Honduras and operated by Honduras Prospera Inc. The initial size of the village’s Prospera is 58 hectares and includes an area for its headquarters, housing and an area for businesses to set up shops. Its size may increase over time if local landowners agree to integrate their property into ZEDE territory.