The 2024 Bitcoin Policy Summit featured Nicaraguan pro-democracy activist Felix Maradiaga, who highlighted the severe challenges faced by his country under the autocratic rule of Daniel Ortega. The Nicaraguan people are rapidly losing their freedoms, with the country being labeled as having lost the most freedoms over the last year according to the Freedom in the World report. Political repression has led to arbitrary detention, inhumane conditions for prisoners, and forced exile for nearly 12% of the population. Maradiaga is now working from abroad to rebuild the capacity of the democratic opposition in Nicaragua, using Bitcoin to combat financial repression.
Maradiaga shared a personal example of how Bitcoin has helped freedom fighters in Nicaragua evade the Ortega regime’s financial monitoring. Traditional banking systems were compromised, leading to the persecution of those involved in human rights efforts. Maradiaga emphasized that Bitcoin is the only tool resistant to financial repression by dictators, offering a way to support activists and opposition members without risking their safety or financial well-being. The misuse of anti-money laundering regulations by oppressive regimes highlights the need for greater understanding and adoption of technologies like Bitcoin.
Maradiaga discussed the implications of global policy on Bitcoin, citing the Magnitsky Justice Campaign as an example of sanctions used against oppressive regimes. These regimes retaliate by freezing bank accounts under the guise of international money laundering regulations, leading to the closure of NGOs and targeting of innocent parties. Maradiaga called for policymakers worldwide to educate themselves about Bitcoin, recognizing its potential as a tool to combat financial repression and support democratic movements in repressive regimes.
Maradiaga emphasized that Nicaragua’s struggle for freedom is part of a larger global issue, with dictatorships collaborating and supporting each other through technology, weapons, and repression mechanisms. He stressed the importance of collaboration among those who believe in freedom, human rights, and fair societies to counter the influence of dictators and support pro-democracy movements around the world. Maradiaga encouraged people to get involved in his efforts through organizations like the World Liberty Congress, highlighting the need for collective action to promote freedom and human dignity on a global scale.
