Canadian Prime Minister Justin Trudeau has invoked the Emergencies Act, which gives him the power to freeze Freedom Convoy protesters’ bank accounts and monitor “large and suspicious transactions,” including crypto.

Deputy Prime Minister Chrystia Freeland said in a press conference on Feb. 14 that this latest tactical maneuver against the protesters broadens the scope of Terrorist Financing rules. It targets “crowdfunding platforms and the payment service providers they use.”

“These changes cover all forms of transactions including digital assets such as cryptocurrencies.”

Together, protesters had amassed over $19 million in funds through the fundraising platforms GoFundMe and GiveSendGo. However, those funds have been blocked from reaching the convoy, leading some to organize a fundraising round using Bitcoin (BTC).

The HonkHonk Hodl group raised 22 BTC valued at nearly $1 million through the Tallycoin BTC fundraising platform. HonkHonk Hodl closed their Tallycoin page on Feb. 15 because they had exceeded their fundraising goal. Those funds are still expected to be distributed to protesters.

GoFundMe cooperated with Canadian officials and refunded donors, but GiveSendGo has experienced an information leak exposing the identity of “thousands of names of those who donated to the…

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.