@ HRF

Good morning, readers! In Russia, the State Duma passed sweeping amendments granting officials the ability to equate “funding extremist activities” with “financing terrorism.” These changes allow officials to label anyone accused of spreading “fake news” or “discrediting” the military and authorities as “terrorists and extremists.” This development threatens activists and civil society organizations with intensified financial repression, including frozen accounts, restricted access to funds, and strict withdrawal limits.   Meanwhile, North Korea’s currency crisis continues to worsen, pushing citizens to abandon the North Korean won in favor of barter. As exchange rates for foreign currencies soar, merchants and money changers increasingly demand tangible goods like rice and fuel and no longer accept North Korean won for imported goods and foreign currencies.  In technology news, Tando, a Bitcoin payment app in Kenya, received significant attention at the 2024 Africa Bitcoin Conference for integrating the Bitcoin Lightning Network with M-PESA, Kenya’s mobile money system. This allows people to use Bitcoin to buy things across the country while merchants receive Kenyan shillings, bridging the gap between the local financial system and Bitcoin. \ \ Finally, we feature the latest episode of the Dissidents and Dictators podcast, featuring Togolese human rights activist Farida Nabourema sharing her first-hand experience growing up under the Gnassingbé dictatorship. She believes Bitcoin can enable greater transparency and offer a financial lifeline for citizens in Togo and across Africa. **Now, let’s dive right in!** ### [**Subscribe Here**](https://mailchi.mp/hrf.org/financial-freedom-newsletter?mc_cid=bf652c0a5a) ## **GLOBAL NEWS** #### **Russia | Sweeping Amendments Expand Financial Repression Against Dissidents** Russia’s State Duma made sweeping [amendments](https://meduza.io/en/cards/russia-just-expanded-its-definition-of-money-laundering-crimes-to-enable-far-broader-political-repressions-against-terrorists-and-extremists) to 48 federal laws, granting officials the power to equate “funding extremist activities” with “financing terrorism.” This move allows the regime to directly target individuals, activists, and nonprofit organizations suspected of spreading “fake news” or “discrediting” the military and regime. Once designated as a “terrorist” or “extremist,” a person or organization [faces](https://meduza.io/en/cards/russia-just-expanded-its-definition-of-money-laundering-crimes-to-enable-far-broader-political-repressions-against-terrorists-and-extremists) frozen bank accounts, restricted access to funds, and a withdrawal cap of just [10,000 rubles](https://meduza.io/en/cards/russia-just-expanded-its-definition-of-money-laundering-crimes-to-enable-far-broader-political-repressions-against-terrorists-and-extremists) ($95) per month — a limit that extends to each dependent in their family. Compounding these hardships, employers often refuse to hire individuals on these government lists. #### **North Korea | Failing Currency Forces Return to Barter** North Korea’s [currency crisis](https://www.dailynk.com/english/n-koreas-currency-crisis-forces-return-to-barter-economy/) is forcing citizens to abandon the depreciating won currency in favor of barter. As exchange rates for foreign currencies like the US dollar and Chinese yuan hit [record highs](https://www.dailynk.com/english/n-koreas-currency-crisis-forces-return-to-barter-economy/), merchants and money changers now demand commodities (such as rice and fuel) for foreign currencies and imported goods. One such example is trading around [2 kilograms](https://www.dailynk.com/english/n-koreas-currency-crisis-forces-return-to-barter-economy/) of rice for a single dollar. This collapse leaves those without access to foreign currency in increasingly precarious financial positions and struggling to secure food and basic necessities. Even farmers, once [partially compensated](https://www.dailynk.com/english/n-koreas-currency-crisis-forces-return-to-barter-economy/) with valuable goods, now increasingly receive devalued cash, worsening nationwide food insecurity. #### **Nicaragua | Human Rights Abuses and Financial Repression Exposed** Under Daniel Ortega’s authoritarian rule, Nicaragua [exemplifies](https://havanatimes.org/features/nicaragua-the-ortega-regimes-hideous-human-rights-record/) the devastating intersection of financial repression and human rights abuses. New reports [detail](https://havanatimes.org/features/nicaragua-the-ortega-regimes-hideous-human-rights-record/) how the regime has confiscated over [$250 million](https://havanatimes.org/features/nicaragua-the-ortega-regimes-hideous-human-rights-record/) in assets, dissolved more than [5,200 NGOs](https://havanatimes.org/features/nicaragua-the-ortega-regimes-hideous-human-rights-record/), canceled pensions, and frozen bank accounts, leaving citizens financially vulnerable and silenced. Since Ortega’s return to power in 2007, and especially after the 2018 protests, his government has dismantled civil society, crushed political opposition, and eradicated independent media. Hundreds have been killed and exiled, and in 2023 and 2024 alone, [452 political opponents](https://havanatimes.org/features/nicaragua-the-ortega-regimes-hideous-human-rights-record/) were stripped of their citizenship. #### **El Salvador | Bitcoin Adoption Limited as Government Comes to Terms With IMF** El Salvador [finalized](https://www.imf.org/en/News/Articles/2024/12/18/pr-24485-el-salvador-imf-reaches-staff-level-agreement-on-an-eff-arrangement) a $1.4 billion agreement with the International Monetary Fund (IMF) to support the government’s economic reform agenda at the cost of scaling back some of its Bitcoin policies. The deal will make accepting Bitcoin in the private sector voluntary, require all taxes to be paid in US dollars (as opposed to making it possible to pay in BTC), and see Chivo, the government-supported Bitcoin wallet, gradually unwound. In addition, the government will enhance “transparency, regulation, and supervision of digital assets” and establish a stronger Anti-Money Laundering and Counter-Financial Terrorism (AML/CFT) framework. #### **Malaysia | Parliament Passes Repressive Media Bills Amidst Financial Struggles** Earlier this year, Malaysia’s ringgit currency plunged to a [26-year low](https://www.channelnewsasia.com/cna-insider/ringgit-decline-rise-malaysia-currency-low-brain-drain-government-4343531), [driving up](https://www.channelnewsasia.com/cna-insider/ringgit-decline-rise-malaysia-currency-low-brain-drain-government-4343531) prices nationwide. As families struggled with a higher cost of living, officials passed an [amendment](https://www.malaymail.com/news/malaysia/2024/11/18/cops-can-now-freeze-seize-mule-bank-accounts-to-prevent-scam-victims-money-from-being-withdrawn/157236) granting law enforcement the power to freeze bank accounts suspected of fraud. Meanwhile, Malaysia’s parliament is [passing](https://globalvoices.org/2024/12/16/online-safety-or-censorship-malaysias-parliament-passes-two-contentious-media-bills/) two more bills to regulate media and online spaces, allowing officials to censor content and request user data from service providers without approval. Critics warn the vague language in these laws will likely be exploited to silence dissent and stifle public discourse. As financial hardships mount, Malaysia’s online spaces become increasingly controlled, eroding freedom of expression and financial autonomy. ## BITCOIN NEWS #### **Tando | Bridging Bitcoin and Everyday Payments in Kenya** [Tando](https://tando.me), a new bitcoin payments app and HRF grantee, [makes it easy to spend bitcoin](https://bitcoinmagazine.com/takes/tando-was-all-the-rage-at-this-years-africa-bitcoin-conference?new) anywhere in Kenya by integrating with M-PESA, Kenya’s mobile money system. Users simply download the Tando app, enter the merchant’s M-PESA number, and input the amount owed in Kenyan shillings. The app calculates the required amount of bitcoin and generates a Lightning invoice, which users pay through their own Bitcoin wallet. Tando then converts the sats to shillings and completes the transaction instantly ([you can watch this one-minute live demo here](https://x.com/AnitaPosch/status/1863916169209520432)). For Kenyans excluded from M-PESA due to Know-Your-Customer regulations, Tando provides a practical solution that bridges Bitcoin and local financial systems to make everyday transactions easier. #### **Yakihonne | Adds Support for Improved Encrypted Direct Messaging** [YakiHonne](https://yakihonne.com/), a Nostr client, champions free speech and facilitates Bitcoin payments across 170 countries. Recent updates have made the platform more user-friendly and secure. The updated text editor now supports multiple languages, including right-to-left scripts, enhancing accessibility for a global audience. Messaging capabilities have been upgraded to allow longer texts, and users can now activate Secure DMs ([NIP 44](https://github.com/paulmillr/nip44)) for encrypted messaging on Nostr. These improvements make YakiHonne an appealing communication platform for pro-democracy and human rights activists, offering secure messaging and the ability to receive payments in Bitcoin in countries ruled by authoritarian regimes. #### **Mostro | Making Bitcoin More Accessible and Private** [Mostro](https://mostro.network/), a private and peer-to-peer (P2P) Bitcoin exchange built on Nostr, made significant strides this year toward empowering human rights defenders and nonprofits with accessible, private, and censorship-resistant financial tools. Created by Venezuelan developer [Francisco Calderon](https://x.com/negrunch), the platform implemented advanced key management which allows users to rotate the keys used for every bitcoin trade. This adds a layer of privacy critical for those operating under authoritarian regimes. Additionally, Mostro adopted [NIP-69](https://github.com/nostr-protocol/nips/blob/master/69.md), standardizing all peer-to-peer orders on Nostr, creating a larger liquidity pool, and making trades more accessible for users. Finally, Mostro will soon launch a mobile app (currently in the testing phase), helping democratize Bitcoin access by providing individuals with a user-friendly mobile interface. #### **Foundation | Introduces Personal Security Platform**   [Foundation](https://foundation.xyz), a Bitcoin hardware wallet company, [introduced Passport Prime](https://foundation.xyz/2024/12/introducing-passport-prime/), which they call “the world’s first Personal Security Platform.” Designed to protect users’ bitcoin and digital lives, Passport Prime offers a Bitcoin wallet, multi-factor authentication, secure file storage, and a Seed Vault to organize seed phrases. It does not require usernames, passwords, or email addresses, making it an interesting option for privacy-conscious users, particularly pro-democracy and human rights activists operating under authoritarian regimes. You can learn more about Passport Prime [here](https://foundation.xyz/2024/12/introducing-passport-prime/). #### **BTrust Builders | Applications for 2024 ₿OSS Cohort Close Tomorrow** Applications for the [2025 ₿OSS Cohort](https://bitcoinke.io/2024/12/the-btrust-builders-2025-cohort/), hosted by [Btrust Builders](https://www.btrust.tech/builders) in partnership with Chaincode Labs, close tomorrow, Dec. 27, 2024. This part-time, three-month, fully remote program is tailored to African developers seeking to contribute to Bitcoin open-source software (₿OSS), in order to increase the potential for use cases in a region where three-quarters of the governments are authoritarian regimes. The program is open to developers of all experience levels, and it provides hands-on technical training, career-building opportunities, and mentorship. If you’re a developer interested in this program, you can apply [here](https://bitcoinke.io/2024/12/the-btrust-builders-2025-cohort/). ## RECOMMENDED CONTENT #### **Is Bitcoin a Lifeline for Africa with Farida Nabourema** In this episode of [Dissidents and Dictators](https://www.youtube.com/@DissidentsandDictators), an HRF podcast, Togolese human rights activist Farida Nabourema reveals her experience growing up under the Gnassingbé dictatorship—a single-family autocracy that has ruled Togo for over 50 years. Nabourema shares insights into the corruption and lack of trust that permeates Togo’s financial system and discusses how Bitcoin can enable greater transparency and offer a lifeline for citizens in Togo and across Africa, where authoritarian regimes stifle financial freedom. Watch the full episode [here](https://www.youtube.com/watch?v=VeRFW8XsAno). *If this article was forwarded to you and you enjoyed reading it, please consider subscribing to the Financial Freedom Report [here](https://mailchi.mp/hrf.org/financial-freedom-newsletter?mc_cid=bf652c0a5a).* *Support the newsletter by donating bitcoin to HRF’s Financial Freedom program [via BTCPay](https://hrf.org/btc).*\ *Want to contribute to the newsletter? Submit tips, stories, news, and ideas by emailing us at ffreport @ [hrf.org](http://hrf.org/)* *The Bitcoin Development Fund (BDF) is accepting grant proposals on an ongoing basis. The Bitcoin Development Fund is looking to support Bitcoin developers, community builders, and educators. Submit proposals [here](https://forms.monday.com/forms/57019f8829449d9e729d9e3545a237ea?r=use1)*. 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