The leadership from the crypto-friendly charter town of Próspera in Honduras has hit back at reports it’s facing a backlash from residents from the neighboring community of Crawfish Rock over its expansion plans.
A This summer 5 article in the Protector reported the special economic zone, touted being an island paradise with low taxes/fiscal responsibility, luxury homes and crypto-friendly regulation has witnessed pushback from some residents from the Crawfish Rock community.
Some residents are apparently worried about being displaced using their homes because of Próspera’s potential expansion plans, using the article describing the project’s headquarters as sitting “amid a landscape damaged with a bulldozer and deep holes dug for that first step toward the next thing of construction.”
It’s another salvo from the Bitcoin-loving city, that has been struggling with the Honduras government after it repealed a Zones for Employment and Economic Development (ZEDEs) legislation in April, that was a vital bit of legislation that will let it operate like a self-governed fully autonomous zone.
A extended Twitter thread from Próspera and article by general counsel Nick Dranias on This summer 6 however, claimed that articles like the one in the Protector as yet another illustration of a “barrage of lies and misinformation in the mainstream media.”
“Unsurprisingly, because of the impactful nature in our project, we’ve been faced having a barrage of lies and misinformation in the mainstream media.”
Drani outlines three key myths allegedly being disseminated by mainstream media including:
“Myth #1: The Próspera team didn’t adequately socialize the work just before launch.
Myth #2: Próspera is definitely an ideological/crypto/libertarian project.
Myth #3: In Honduras, the Próspera ZEDE expropriated land from locals.”
Learn the reality regarding Prospera ZEDE & unplug in the propaganda. https://t.co/juiRMHgBum @usembassyhn @GobiernoHN @ProsperaGlobal @SenTedCruz @chiproytx @marcorubio @RyanBergPhD @exjon @RepMarkGreen @SenatorRisch @kyrstensinema @timkaine @USDOJ_Intl @USSOCOM @VP @SenBillCassidy
— Nick Dranias (@NickDranias) This summer 6, 2022
A Próspera representative told Cointelegraph that generally, the city response continues to be positive bar a select couple of:
“We possess a fantastic relationship with the local people, would be the largest employer from the community, and usually fully trust them. Actually, 3 people from the community dislike us — the press just always talks to only individuals two individuals.”
Próspera Global also claims on Twitter the supposed bulldozer crawled lands are construction sites for eco-friendly “low-cost housing open to any islanders,” using the building jobs becoming an origin of employment for the local people.
8/Next, Shaun alludes to “disputes over land rights” & “displacing local residents.” Can Shaun name 1 resident we’ve displaced? Absolutely not the statement is fake & misleading. pic.twitter.com/OLvy44u6lB
— Prospera Global (@ProsperaGlobal) This summer 5, 2022
Próspera continues to be kept in a legitimate standoff using the government since President Castro repealed the ZEDE law in April, which may provide the project 12 several weeks to join up within different framework like a “Free Zone” which may offer tax cuts although not allow self governance.
At the beginning of June, Próspera posted a request government consultations underneath the Investment Chapter from the Dominican Republic–Central America–United States Free Trade Agreement (CAFTA-DR), inside a bid to keep its ZEDE status underneath the legal the initial agreement.
Related: Bitcoin exchange outflows surge as ‘not your keys, not your crypto’ returns into fashion
Honduras Próspera Corporation. has continued to be staunch that it is registration like a ZEDE includes a valid “legal stability” not less than another half a century because of the legal framework from the agreement it signed using the government in 2017. Inside a June 4 blog publish, the firm noted that:
“A failure to uphold these commitments would constitute a breach of worldwide and Honduran law, in addition to wrongful and unfair management of Honduras Próspera. Furthermore, it might send a note around the world that no foreign purchase of Honduras is safe.”
The organization mentioned it wishes to avoid an “international investor-condition arbitration” and hopes the government will act in “good faith” towards the initial ZEDE agreement. The firm intends to “invest vast sums of dollars more in in the future,” as well as in April, Honduras Próspera Corporation. elevated $60 million to purchase the work regardless of the ZEDE repeal.
The representative added the government is “yet to formally react to our request official consultation.”
Próspera is really a independently-managed settlement in Honduras managed by Honduras Próspera Corporation. The first size the Próspera Village is 58 acres and possesses areas because of its headquarters, housing, and areas for companies to setup shop. Its size can grow with time if local landowners accept integrate their qualities in to the ZEDE territory.
