Tether CEO Paolo Ardoino promotes El Salvador as Europe’s freedom erodes

Tether’s CEO, Paolo Ardoino, wants people to move to El Salvador after the arrest of Telegram founder Pavel Duroc in France. In an X post, Ardoino said Europe is gradually sliding into the dark ages with its anti-free speech policies.

The crypto executive quoted a post by El Salvador President Nayib Bukele, who called on people to migrate to his country and described it as the safest in the Western Hemisphere. Bukele’s crypto-friendly policies have turned the Central American country into a crypto investor utopia.

Move to El Salvador, “Europe losing its values”

According to Ardoino, Europe has been criticizing El Salvador for years as an anti-democracy and anti-freedom state, but it is now the continent that is failing to protect individual liberties. His comment echoes the criticisms of several others since Durov’s arrest.

French authorities arrested Durov for failing to control Telegram’s use for illegal activities ranging from drug trafficking to terrorism. The social media platform reportedly refused to moderate user content. However, many consider this an attempt by the government to censure the platform’s operations and, therefore, an infringement on freedom of speech. It appears Ardoino also agrees with this view.

In a X post, he said “Europe has obnoxiously criticized El Salvador in the past few years and yet today it really feels that the once cradle of freedom and democracy is slowly falling into dark ages again.”

Meanwhile, Bukele also took a swipe at European authorities in an X post, saying that El Salvador is the ideal place for anyone looking for safety and freedom. He claimed the country is the safest in the Western Hemisphere, with freedom of speech and no property tax.

Bukele said:

“El Salvador is not only the safest country in the Western Hemisphere, but we also guarantee that you won’t be arrested, censored, or have your assets seized for exercising your right to free speech.”

The post has attracted praise from many within the crypto community, who point to the country as an example of a perfectly run state that others should aspire to. Elon Musk described Bukele’s post as “Awesome.”

Bukele attracts the crypto community to El Salvador, but what next?

Foreigners’ interest in El Salvador has soared since Bukele became president. His policies have focused on making the country a crypto haven and attracting crypto holders to live there.

These pro-crypto policies, including making BTC legal tender, buying and holding Bitcoin, and launching a $1 billion BTC bond, have put him at loggerheads with international organizations such as the International Monetary Fund. Local opponents and foreign critics also claim he is turning the country into a one-party state and cracking down on dissenters.

However, many in the crypto community are unconcerned about this as they focus more on his crypto-friendly policies and the stability his tenure has brought to the country. With his tenure set to end in 2029, many are concerned that his successor may not continue with his pro-Bitcoin policies.

Bitcoin developer Luke Dashjr believes the solution is for Bukele to abolish elections. He states, “Continuity of leadership no doubt plays a large part in the stability of some of the best nations in history,” and democracy is overrated.