HRF’s Weekly Financial Freedom Report #26

Nicaragua | Number of Political Prisoners Grows

Dictator Daniel Ortega detained prominent teacher and writer Pedro Alfonso Morales, as well as journalist Orlando Chavez Esquivel and his two siblings. The Human Rights Collective, Nicaragua Nunca Más, stressed that “these incidents are not isolated but part of a systematic policy of repression by the Ortega-Murillo regime to silence critical voices.” Last year, Ortega’s government forcibly expelled 222 political prisoners to the United States, cutting them off from their banking accounts and stripping them of their Nicaraguan nationality. In response, a growing number of Nicaraguan democracy activists are turning to apolitical, neutral, and non-confiscatable money. “Bitcoin is a technology that works for human rights defenders. It’s a technology that works to protect the privacy of people,” Nicaraguan opposition leader Félix Maradiaga said.

Thailand | Transnational Repression of Dissidents

The Thai government is reportedly surveilling, abducting, and abusing activists, refugees, dissidents, and asylum seekers from neighboring countries like Vietnam and Laos. These countries reciprocate by locating and repatriating Thai dissidents, creating a “swap mart” arrangement where governments kidnap and exchange their critics. Upon return, these individuals face persecution, torture, or threats to their lives. Each of the governments in the system is either researching, piloting, or launching central bank digital currencies (CBDCs), which would potentially enhance their ability to suppress dissidents by improving their ability to track and control their finances.

Burma | Central Bank Makes Trading and Exchanging Bitcoin Illegal

The Central Bank of Myanmar declared that Bitcoin, stablecoins, and other cryptocurrencies are not legal tender, making exchange illegal. Violators will apparently be subject to prosecution, which could result in imprisonment, financial fines, or both. The military regime, known for its iron-fisted control of banks, restriction of cash withdrawals, and use of financial repression to target political opponents, has now broadened its reach to target users of digital currencies. By trying to limit access to Bitcoin, the regime aims to further subjugate its 54 million citizens and eliminate any hope of financial autonomy that could threaten its totalitarian rule.

Lebanon | Lira Devalued by 95%

Once known as the Switzerland of the Middle East, Lebanon continues to suffer from a severe economic crisis driven by political instability, corruption, and the mismanagement of public finances. According to international monitors, poverty in Lebanon has tripled over the last decade. Since 2019, the Lebanese lira has been devalued by 95%, erasing the purchasing power and savings of its citizens. To make matters worse, banks restricted most depositors’ access to their money, pushing over 80% of the population below the poverty line. Citizens struggle to afford basic necessities such as food, healthcare, and education. In search of financial rebirth, many Lebanese are turning to Bitcoin and stablecoins.

Tunisia | Lawyers Stage Nationwide Strike and Protests

President Kais Saied’s regime raided the Bar Association headquarters and detained two lawyers critical of the president. This month alone, 10 lawyers, activists, and journalists were arrested, prompting nationwide strikes and protests. After sparking the Arab Spring revolution in 2010, Tunisia’s regime has increasingly detained critics. The regime exploits a cybercrime law to imprison critics on charges of spreading false information. Additionally, it employs financial control to curb its opposition. One such example is the imprisonment of Rached Ghannouchi, the head of Tunisia’s largest opposition party, on allegations of receiving foreign funding, a regime tactic also seen in Russia, Georgia, and elsewhere. This kind of strategy aims to cut off vital resources for opposition members and their movements and silence dissent.