Latest Category: Financial Freedom Report

After 53 years of tyranny, the Syrian regime has been overthrown.

This week, governments and financial institutions around the world advanced policies that amplify the divide between state interests and the daily economic realities of citizens.

In Thailand, the government initiated the second phase of its digital cash handout, targeting four million Thai seniors with 10,000 baht ($290) distributed via their state-controlled “Tang Rath” app.

In Turkey, through years of double-digit inflation, the state has eroded the value of the country’s largest banknote, the 200-lira bill, whose purchasing power has plummeted from $140 in 2010 to just $5.80 today.

Indian regulators are contemplating a ban on digital assets like Bitcoin to position their central bank digital currency (CBDC), the Digital Rupee, as the country’s dominant option.

In Nigeria, the state anti-corruption agency dropped money laundering charges against Tigran Gambaryan, a Binance employee detained by the regime since February.

We are excited to share that HRF’s CBDC Tracker is a finalist in this year’s Anthem Awards, which honor social impact work across various fields.

In Kuwait, the government is escalating surveillance by mandating biometric fingerprint data for all citizens and threatening to restrict their financial accounts, assets, and government services if they fail to comply.

In Zimbabwe, the regime’s new ZiG currency is rapidly losing value, depreciating by up to 80% on the parallel market as citizens lose confidence in the state’s latest monetary experiment. Despite government interventions — including creating artificial scarcity, freezing bank accounts, and arresting currency traders — Zimbabwe is on the brink of yet another currency failure.

This week, authoritarian regimes continued to use financial repression tactics to target dissidents and opposition movements. In Nicaragua, the National Assembly unanimously approved a reform allowing the regime to prosecute and seize the assets of exiled citizens.

This week, Bitcoin took center stage in Venezuela’s struggle for financial freedom. After the Maduro regime brazenly stole the country’s presidential election, opposition leader Maria Corina Machado spoke in an exclusive interview with the Human Rights Foundation (HRF), where she called Bitcoin a “lifeline” and a “vital means for resistance” for Venezuelans suffering under repression and hyperinflation.

In Syria, Bashar al-Assad’s economic policies continue to devastate the lives of millions while he enforces a tight grip on power. Manipulated currency exchange rates and strict monetary controls have deepened poverty and wreaked havoc on the Syrian lira’s value, offering a sobering view into the impact of authoritarian rule on the financial freedom of everyday citizens.

In Russia, the crackdown on charitable donations continues. Ksenia Karelina, a dual Russian-American citizen, was sentenced to 12 years in prison for donating $51 to a Ukrainian charity. Her case highlights the severe risks individuals face when supporting Russian opposition and reminds us of the critical need for financial privacy, especially for the billions of people who live under tyrannical regimes.

As Venezuelan dictator Nicolás Maduro tightens his grip on power, he has restricted access to Binance, the world’s largest Bitcoin and cryptocurrency exchange. For many Venezuelans, Binance was a helpful lifeline offering peer-to-peer access to USD, Bitcoin, and stablecoins. Now, many are left increasingly trapped with the crumbling bolívar.

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.