Latest Category: Blog Series

In Nigeria, widespread discontent with President Bola Tinubu’s financially repressive policies sparked nationwide protests. Security forces descended on citizens peacefully protesting against the devaluation of the naira and soaring inflation, which has reached a 30-year high in a country where 40% of the population already suffers under extreme poverty.

In Venezuela — recently home to one of the most catastrophic episodes of hyperinflation in history — dictator Nicolás Maduro fraudulently claimed victory in the country’s presidential election.

This week, authoritarian regimes intensified financial controls in response to global cost of living pressures. In El Salvador, President Nayib Bukele initiated investigations into supermarkets allegedly hiking the prices of basic goods.

In Kenya, thousands of young citizens protested new taxes and a bailout for the government, which continues to erode democracy. Thirty-nine people were killed. Meanwhile, Bolivia experienced an alleged coup attempt led by the former commander general of the military, which some suspect was orchestrated by President Luis Arce to boost his dwindling popularity amid severe financial hardships.

This past week, Russian officials detained a Russian-American woman for the “crime” of donating $51.80 to a pro-Ukraine charity. Meanwhile, in China, the regime renamed over 600 villages significant to the Uyghur Muslim minority group in its efforts to further erase Uyghur cultural identity.

From June 3 to 5, human rights advocates gathered in Norway for the Oslo Freedom Forum to share their stories and reclaim individual rights from authoritarian regimes. During the Financial Freedom track, speakers highlighted how Bitcoin funds counter-terrorism and pro-democracy movements, provides banking services to repressed populations, and safeguards against the risks of central bank digital currencies.

This week in Nicaragua, the number of political prisoners continues to grow. This time, the targets are journalists and teachers who are arbitrarily detained and often cut off from their banking accounts.

In Hong Kong, officials launched a pilot program for China’s central bank digital currency (CBDC), the e-CNY, marking its first expansion beyond the mainland. But even under duress, adoption remains limited as many Chinese workers are quickly converting their e-CNY for traditional currency, emphasizing their distrust of centralized digital currencies.

This week in Russia, Vladimir Putin’s “reelection” for a fifth term underscores a deepening authoritarian regime, characterized by stringent control over the financial system and harsh crackdowns on dissenters — a far cry from his pledge to “preserve and develop democracy” when first assuming office in 2000.

n Nigeria, the director general of the Securities and Exchange Commission announced the government’s intention to delist the naira from peer-to-peer platforms, a move that would effectively trap the public inside the failing currency.

This week news centered around the harassment of press freedom defenders through financial de-platforming. In Somalia, the regime froze the bank accounts of the Somali Journalist Syndicate (SJS).

Last week, on halving day, the Human Rights Foundation launched the Finney Freedom Prize to honor the legacy of Hal Finney and inspire others to follow in his footsteps. As the world becomes increasingly digital, the fight for electronic privacy and cash becomes more and more important.

Depending on your time zone, Bitcoin’s fourth halving will take place tomorrow or Saturday at block height of 840,000. Here’s a great 101 from Andreas Antonopolous on the basics of the halving, why it is important, and what he expects to happen as a result of Bitcoin issuance being cut in half.

After five failed currencies in the last ten years, Zimbabwe is launching yet another currency. This time, one ostensibly backed by foreign reserves and precious metals. Observers, however, remain skeptical, questioning whether the regime will provide sufficient reserves to back up the new currency.

This week’s news is led by the headline that SWIFT — the global messaging system for banks — is developing a central bank digital currency platform to facilitate the interoperability of CBDCs across the globe, most of which are being issued by authoritarian governments.

In Hong Kong, lawmakers have passed a new national security law aimed at suppressing dissent among citizens. Meanwhile, the ruling Indian government has frozen the bank accounts of the Indian National Congress, the largest political opposition group in the country, further raising concerns over the erosion of freedom and democracy.