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Former U.S. Department of Justice Attorney General Robert Francis Kennedy Jr. recently lamented the growing financial censorship around the world 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 main victims are the political enemies of most governments, which he classified as “authoritarian regimes.”
Political enemies forced to suffer financial censorship
In his Twitter post, Kennedy stated that the trend towards this financial ban is evident in several countries around the world. In 2019, Russian authorities froze more than 100 bank accounts linked to opposition leader Alexei Navalny. Although the authorities said the action was linked to a money laundering investigation, many citizens considered it politically motivated.
Last year, Canada froze more than 200 accounts of people and businesses associated with protests in Ottawa against Covid-19 mandates.
The Royal Canadian Mounted Police (RCMP) has reportedly frozen several financial products, including bank and corporate accounts. It also froze an account for processing payments of about $3.8 million.
Citing these examples, the environmental lawyer said that financial censorship is slowly making its way into the United States. This means that a person’s account can be frozen due to their social media comments or political stance.
Kennedy Jr. cited incidents in 2010 when PayPal, Mastercard and Visa suspended an NGO and whistleblowing platform WikiLeaks that exposed the unethical practices of large corporations and government agencies. It is noteworthy that the suspension was made by order of the US State Department.
Kennedy Jr. on Bitcoin and CBDC
The central banks of the countries manage central bank digital currencies (CBDCs). This means that the government will control the financial accounts of all residents of the country in which the CBDC operates.
Kenndy Jr. believes that CBDCs can increase the government’s power to crack down on meaningful political dissent. The authorities may decide to limit the financial access of some individuals only because of political statements and opinions.
The lawyer noted that meaningful disagreement should include people’s ability to maintain and use their finances without political interference. It must be about maintaining proper political protection against powerful self-interest in regards to democracy.
But meaningful citizen dissent is at stake with the passage of the CBDC and their power over government. Thus, Kennedy Jr. supported Bitcoin, saying that the cryptocurrency asset will allow anyone to conduct financial activities without government interference.
BTC rises in hope of making more profits l Source: Tradingview.com
According to him, Bitcoin is a savior that allows people to freely move and act around the world.
Featured image from Pexels and chart from Traidngview.com