The former US Department of Justice Attorney General Robert Francis Kennedy Jr, recently lamented the growing financial censorship worldwide and showed support for Bitcoin.
The financial censorship of political enemies is something we’re used to seeing under authoritarian regimes. No one was surprised when Russia froze more than 100 bank accounts tied to opposition leader Alexei Navalny. But Canada did it too, locking more than 200 accounts of…
— Robert F. Kennedy Jr (@RobertKennedyJr) May 5, 2023
According to Kennedy Jr, the major victims are political enemies of most governments that he classified as “authoritarian regimes.”
In his Twitter post, Kennedy stated that the trend in this financial prohibition is evident in several countries globally. In 2019, Russian authorities froze over 100 bank accounts related to the opposition leader Alexei Navalny. Though the authorities stated that the action aligned with a money laundering investigation, many citizens believed it was politically inclined.
Last year, Canada froze over 200 accounts of people and firms connected to the protests in Ottawa against Covid-19 mandates.
According to the reports, Royal Canadian Mounted Police (RCMP) froze several financial products, which included bank and corporate accounts. Also, it froze a payment processing account with a valuation of about $3.8 million.
After citing these instances, the environmental lawyer stated that financial censorship is gradually creeping into the United States. This means a person’s account could be frozen due to his comments on social media or political stance.
Kennedy Jr cited the incidents in 2010 when PayPal, Mastercard, and Visa suspended an NGO and whistleblowing platform, WikiLeaks, that exposed big corporations and government institutions of unethical acts. Notably, the suspension was through the command of the US State Department.
The central banks of countries manage Central Bank Digital Currencies (CBDCs). This means that the government will control the financial accounts of all residents in a country that runs CBDC.
Kenndy Jr believes CBDCs could magnify a government’s power to suppress meaningful political dissent. The authorities could decide to cut the financial access of some individuals just because of political statements and opinions.
The lawyer noted that a meaningful dissent should include people’s ability to save and use their finances without political interference. It should be about maintaining the proper political protection from powerful personal interests regarding democracy.
But citizens’ meaningful dissent is at risk with the adoption of CBDCs and their power to the government. As such, Kennedy Jr supported Bitcoin, stating that the crypto asset would allow anyone to operate financially without government interference.
In his words, Bitcoin is a lifesaver that enables people’s free global movement and actions.
Featured image from Pexels and chart from Traidngview.com
XRP traded largely flat on Monday following a volatile week marked by a broader cryptocurrency…
Strategy is back in the spotlight after revealing its Bitcoin treasury could support shareholder dividends…
Recent business collapses of exchanges have brought speculation about whether such crashes could trigger the…
Whale clients are showing renewed appetite for Ether, a development that could benefit crypto customers…
EMCD, a global crypto-fintech platform and one of the world’s largest Bitcoin mining pools, has…
TRUMP Coin is attracting crypto traders’ attention following the Trump token team's move to transfer…