Canada is freezing bank accounts of protesters without a warrant. And not even bitcoin is saved

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The truckers’ protests in Canada, better known as the ‘Freedom Convoy’, have led the country’s government to adopt exceptional measures through the Emergencies Law, only convened once in peacetime. Among the measures is the freezing of the bank accounts of the protesters, without the need for a judge to order it.

Canadian banks are not sure how they are supposed to apply this measure. The Canadian government explained that banks will be required to report relationships with the people involved and authorization will be given to freeze accounts without a court order. However, banks were unclear about what types of accounts were included in this measure, what options customers have if they believe their account has been unfairly closed, and how banks will be compensated.

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Days later, the great whites were down for several hours. Within a couple of days after the Emergency Law was activated, several of the country’s largest banks they were offline for several hours. Among those affected were the Royal Bank of Canada (RBC), BMO (Bank of Montreal), Scotiabank and the Canadian Imperial Bank of Commerce (CIBC).

The reason for these computer problems is not officially related to the decision of the Trudeau government, but generated controversy among the thousands of users who saw that they could not access their accounts.

Cryptocurrency platforms and crowdfunding services were also affected. The measures will also affect cryptocurrency platforms and services such as GoFundMe, used by some protesters to receive donations and support for their mobilizations.

As explained by the deputy prime minister, Chrystia Freeland, they are preparing an extension of the regulations on the financing of terrorism to include cryptocurrencies and collection on the internet. “You have to follow the money,” Freeland said.

Among the measures, describes BBCextraordinary powers are also contemplated, such as seizing trucks, as well as imposing fines or withdrawing driver’s licenses.

Some accounts have already been seized. as described ReutersEven before the Act was passed, the Toronto-Dominion Bank froze two bank accounts with a total of 1.4 million Canadian dollars that had come from GoFundMe. The crowdfunding platform itself canceled the collection despite the fact that they had more than 10 million Canadian dollars, explaining that it would return the money to the different users.

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The crypto ecosystem compares Canada with China. Many countries, including Spain, are in the process of regulating cryptocurrencies. However, this Canadian emergency law has taken the control over Bitcoin and other cryptocurrency wallets to a much higher level. According reports Toronto Starmore than a million dollars of digital wallets with Bitcoin have been frozen.

Some personalities of the crypto ecosystem such as Anthony Pompliano have come to compare Canada’s decision with China’s measures. Also the president of El Salvador, Nayib Bukele, Has expressed his concern about Canada, describing it as a “real war”. Jesse Powell, founder of the Kraken exchange, has described the government’s position as follows: “if someone is a dissident, you just confiscate their wealth”.

Image | michael swan

The truckers’ protests in Canada, better known as the ‘Freedom Convoy’, have led the country’s government to adopt exceptional measures…

The truckers’ protests in Canada, better known as the ‘Freedom Convoy’, have led the country’s government to adopt exceptional measures…

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