Disclosure Today
  • Home
  • Business
  • Gaming
  • Crypto
Sunday, May 28, 2023
No Result
View All Result
  • Home
  • Business
  • Gaming
  • Crypto
No Result
View All Result
Disclosure Today
No Result
View All Result
Home Crypto

Canada Bans 34 Crypto Wallets Tied to Freedom Convoy

Brooks Butler by Brooks Butler
February 16, 2022
in Crypto
0
24
SHARES
800
VIEWS
Share on FacebookShare on Twitter

Key Takeaways
Canadian police authorities have issued an order that blacklists several crypto wallets linked to the Freedom Convoy.
There are reportedly 34 cryptocurrency wallets on the list containing approximately $1.4 million in cryptocurrency.
Canada invoked the Emergencies Act on Monday, allowing for funds to be frozen without the need for a court order.

Canadian authorities have reportedly banned companies from working with 34 cryptocurrency wallets associated with the Freedom Convoy, a protest against COVID-19 restrictions.

$1.4 Million of Crypto Could Be HaltedCanadian Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, allowing the government to freeze bank accounts funding the protestors without needing to obtain a court order.

Now, according to reports from Keann Bexte of the Counter Signal, the Royal Canadian Mounted Police (RCMP) and the Ontario Provincial Police are attempting to freeze transactions from 34 crypto wallets associated with the Freedom Convoy.

The list purportedly includes 29 Bitcoin wallets, two Ethereum wallets, as well Litecoin, Monero, and Cardano wallets. The wallets are said to contain about 25 BTC worth $1.4 million.

The order says that Canadian authorities have been “investigating cryptocurrency donations being collected in relation to illegal acts falling under the scope of the Emergency Measures Act.”

The police order does not suggest that the authorities can freeze the wallets directly. Rather, it aims to prevent FINTRAC-regulated companies from accepting funds from those wallets, thereby preventing the holders from cashing out their crypto via exchanges.

Emergencies Act Allows for Crypto RegulationCrypto Briefing was unable to locate a full copy of the police order in full, and authorities have not confirmed the report.

However, the Canadian government made it clear on Monday that it would target cryptocurrency alongside traditional transactions. The Emergencies Act “cover[s] all forms of transactions, including digital assets such as cryptocurrencies,” Deputy Prime Minister and Minister of Finance Chrystia Freeland said this week.

It is unclear whether the police order targets HonkHonkHodl, a fundraising effort that succeeded in raising nearly $1 million in Bitcoin. Vice suggested on Tuesday that the movement organizers have obtained Bitcoin from that fundraising effort and are now in the process of distributing the funds to individuals.

The utility of cryptocurrencies for donations has increasingly been utilized by civilian protests. Notably, Ukrainian volunteer groups and non-government organizations saw a 900% increase in funding via Bitcoin last year from the previous year, possibly in the face of the increasing Russian military presence at its borders. 

Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies. 

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

NFT Express: Your on-ramp to the world of NFTs

At Tatum, we’ve already made it super easy to create your own NFTs on multiple blockchains without having to learn Solidity or create your own smart contracts. Anyone can deploy…

Trudeau Says He’ll Freeze Bank Accounts; Crypto Fans Point to Bi…

In response to the trucker-led protests over vaccine mandates, the Canadian government has for the first time invoked the 1988 Emergencies Act, meaning it can freeze or suspend citizens’ bank…

Ukrainian Defense Efforts Benefit from Crypto Crowdfunding

News

Feb. 9, 2022

Ukrainian volunteer groups organized to defend the nation against Russian invasion received a 900% increase in Bitcoin donations in 2021, according to a report today. Defense Funding by Crypto Ukrainian…

American Cancer Society Accepts Dogecoin Donations

The American Cancer Society (ACS) is now accepting Dogecoin donations, according to a tweet published by the charity. Donate Dogecoin to ACS “Starting today, you can make donations to the…

Read More

Previous Post

Colorado to Accept Crypto for State Taxes From This Summer

Next Post

The Uncharted movie has fight moves “stolen straight from the game,” says Tom Holland

Next Post

The Uncharted movie has fight moves "stolen straight from the game," says Tom Holland

Leave a Reply Cancel reply

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

Iran nuclear talks should be paused, says EU’s foreign policy chief

March 11, 2022

Halo Infinite had the biggest launch in the franchise with over 20 million players to date

January 25, 2022

Terra’s Do Kwon Hires Legal Team in South Korea: Report

August 17, 2022
Sneaky Panda raises $6m in seed funding round

Sneaky Panda raises $6m in seed funding round

December 3, 2021
Ubisoft: Gamers “don’t get” what NFTs could do for them

Ubisoft: Gamers “don’t get” what NFTs could do for them

January 29, 2022

Nintendo’s weird “This is Miyamoto” tweet is already a meme

April 26, 2022
Former Criterion leaders set-up new AAA games studio Fuse Games

Former Criterion leaders set-up new AAA games studio Fuse Games

March 20, 2023

BAFTA Breakthrough 2022 participants unveiled

November 13, 2022

Taxpayers face further Bulb losses due to government hedging block

March 17, 2022

US inflation hits 9.1% as pressure grows on Fed

July 13, 2022

Wakefield’s ‘red wall’ voters turn their back on Boris Johnson

June 12, 2022

Hulk vs. Thor in 2022

December 22, 2021

Meta Rolls Out Instagram NFT Feature in 100 Countries

August 4, 2022

Two Point Campus is getting into the holiday mood with its new free Winter Update

December 18, 2022

The Lord of the Rings Embracer Group acquisition has fans nervous

August 18, 2022

UK foreign secretary calls on allies to curb rise of Russia and China

January 21, 2022
  • Home
  • Crypto

© 2021 Disclosure / Today.

No Result
View All Result
  • Home
  • Crypto

© 2021 Disclosure / Today.