HRF’s Weekly Financial Freedom Report #39

Brazil | Court Orders Nationwide Suspension of X and Freezes Financial Accounts

In a significant escalation of a legal dispute, Supreme Court Justice Alexandre de Moraes ordered the suspension of X across Brazil and the freezing of Starlink’s financial accounts. This follows X’s failure to comply with a court-imposed deadline to appoint a legal representative in Brazil. The order includes fines of up to $9000 per day for individuals caught accessing X via VPNs. Despite initially refusing to block X, the satellite Internet provider Starlink has since complied with court orders to do so. Elon Musk criticized the ruling, however, accusing Moraes of enforcing unjust censorship against political opponents and “illegally” freezing their finances. The suspension of one of Brazil’s most widely used social media platforms raises concerns over the limits of judicial authority, depriving millions of Brazilians of a key source of information and communication and eroding free speech and public discourse.

Syria | Bashar al-Assad Cripples Financial Freedom

Bashar al-Assad’s 24-year rule is stripping Syrian citizens of their financial freedom through deliberate economic strategies designed to maintain his grip on power. Assad manipulates currency exchange rates to benefit insiders while siphoning wealth off from ordinary Syrians, and he imposes strict controls on the movements of goods, capital, and money. These policies have plunged more than 90% of the population into poverty and decimated the Syrian lira’s value by 99% since 2011. The resulting collapse in household welfare, shortages of essential goods, and surging inflation have left 22 million Syrians trapped in a cycle of poverty with little hope of recovery.

Nicaragua | Bans 1,500 NGOs From Operating in Country

Dictator Daniel Ortega banned 1,500 non-governmental organizations (NGOs) from operating in Nicaragua, targeting religious entities and civil society groups. Ortega’s regime justifies the closures by accusing these NGOs of failing to disclose financial information, a charge widely dismissed as a pretext for silencing dissent. The regime also seized the assets of these organizations, leaving them financially paralyzed. The consequences for Nicaragua’s civil society are dire, as this systematic dismantling of independent organizations will lead to even greater suppression of freedoms. Ortega has shut down more than 5,000 civil society organizations since pro-democracy protests erupted in 2018, leaving Nicaraguans’ with little recourse against an increasingly authoritarian state.

Thailand | The Untold Story of Bitcoin

In a recent article for Bitcoin Magazine, Burmese human rights activist Win Ko Ko Aung tells the story of how Didier Somnuk, a small business owner in Bangkok, found financial freedom through Bitcoin. Born in Yala, one of Thailand’s poorest and most conflict-ridden regions, Somnuk understood Bitcoin’s potential as a tool for financial liberation. He first began accepting Bitcoin at his business, then started educating local communities on its merits. He even founded Right Shift, a company that creates Bitcoin content in Thai. Efforts like his are gaining in popularity in a country where the value of the local currency collapsed by half during the Asian Financial Crisis. Somnuk cautions that even though citizens are starting to find new ways to protect their savings, “the Thai government might intervene in Bitcoin adoption, potentially mandating the use of KYC wallets because they dislike money systems they can’t control.”

Nigeria | Rising Costs Push Millions of Citizens into Acute Food Shortage

According to a recent Food and Agriculture Organisation (FAO) report, 32 million people are now acutely food insecure in Nigeria, a staggering increase from the 18.6 million reported in late 2023. This has been exacerbated by the regime’s abysmal economic policies and the collapse of the naira currency. “The surge in food commodity prices and security challenges has placed millions of Nigerians in a critical condition,” Dr. Sanjo Faniran, national convenor of food systems in Nigeria, said. This has culminated in the citizen-led #EndBadGovernance protests against “the worst cost of living crisis in a generation.” Nigerian President Bola Tinubu responded to citizen demonstrations by deploying security forces, arresting hundreds of citizens, and charging 10 protesters with treason.

Tanzania | Blocks X Amid Political Repression

Tanzania’s government is cracking down on political dissent by blocking access to X, as reported by HRF grantee Netblocks, an organization dedicated to monitoring Internet freedom worldwide. According to Netblocks, “the incident comes as the police force issues an alert over alleged opposition party plans to raid police stations where political prisoners might be held.” Tanzania has witnessed an unprecedented crackdown from security forces, who have detained hundreds of opposition party members, including the chairman of the Chadema party, Freeman Mbwoe, and his deputy, Tundu Lissu. Other prominent critics, including Deusdedith Soka and Dioniz Kipanya, disappeared, while Shadrack Chaula, a TikToker critical of President Samia Suluhu Hassan, remains missing. These actions undermine democratic processes and escalate the government’s efforts to stifle dissent and control information.