Canada relies on the emergency law to pursue fiat and crypto transactions

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  • In the fight against the Freedom Convoy, Canada's Prime Minister Justin Trudeau "temporarily" relyed on the Emergencies Act.
  • The rule gives him the authority to pursue "large and suspicious transactions" and to finance the protests, including those made in crypto.

For the first time in the history of Canada, Prime Minister Justin Trudeau rely on the Emergencies Act. The law now grants him the authority to freeze bank accounts related to demonstrators of the Freedom Convoy. It also gives him the mandate to monitor "large and suspicious transactions", including those made in crypto. All crowdfunding platforms are now obliged to report such transactions to the Financial Transactions and Reports Analysis Center of Canada (Fintrac).

It is noteworthy that the Freedom Convoy protests against Covid-19 vaccine mandates and restrictions in Canada. The convoy originally protested against mandates to cross the US limit, but later developed into protests against the pandeme-related restrictions in general.

To support their efforts, demonstrators collected over 19 million US dollars via the donation platforms Gofundme and Givesendgo. Later, her fundraising campaign referred to crypto, especially Bitcoin (BTC) after the government blocked funds from the centralized platforms mentioned above.

Gofundme cooperated with Canadian officials and agreed to reimburse donors. According to The Daily Dot author Michael Thalen, Givesendgo was compromised. This revealed the identity of "thousands of names of those who donated to the Freedom Convoy". The fate of the funds of the convoy remains unclear, but it is likely that they will not get into the hands of the demonstrators.

Canada's emergency law to target crypto -lodder

switch to crypto as a donor, a group called "Honkhonk Hodl" collected remarkable 22 BTC (almost $ 1 million) via the Fundraising platform TALLYCOIN BTC. The group later closed the Tallycoin page on February 15 and said that it exceeded its donation goals. The crypto-assets are still expected to be distributed to demonstrators.

Just like Trudeau, Canada's deputy Prime Minister Chrystia Freeland said that the emergency law extends the scope of the regulations on terrorist financing. This is because it covers all forms of transactions including crypto.

Before the announcement, the Prime Minister of Quebec, Francois Legault, is said to have said that the appeal on the law could "pour oil into the fire". However, Trudeau insisted that the rule was only used "temporarily and very specifically". Another opponent of the Emergencies Act is the Canadian Civil Liberties Association, which says:

"The Federal Government has not reached the threshold that is necessary to refer to the emergency law", and added: "The law enables the government to deal with ordinary democratic processes. This standard has not been fulfilled."

Bitcoin promotes financial freedom

crypto supporters have shared their joy about the potential of crypto to escape the financial censorship. One of the demonstrators wore a poster with the inscription:

"Bitcoin is financial freedom." The founder of the Pylon Holding Company, Preston Pysh, also tweeted:

What advertising for Bitcoin

bitcoin = freedom.

crypto-founding-Ökosystem The Giving Block recently a test report This shows the increase in Crypto philanthropy in 2021. The crypto donations of the past year were $ 69.6 million, almost 16 times the $ 4.2 million from 2020.


Source: Crypto-news-flash.com