In Canada, For The First Time, The Emergencies Act Will Be Applied, Which Will Affect Crowdfunding And Cryptocurrency

Canadian Prime Minister Justin TRUDEAU has invoked the Emergencies Act, which gives him the power to freeze the bank accounts of Freedom Convoy protesters and track large and suspicious transactions, including cryptocurrencies.

Deputy Prime Minister Chrystia FREELAND said at a February 14 press conference that such a tactical maneuver against protesters expands the scope of the anti-terrorist financing rules. The measure targets crowdfunding platforms and payment service providers used by the protesters.

The protesters raised more than $19 mln through the GoFundMe and GiveSendGo fundraising platforms. However, these funds were blocked, and as a result, a fundraising round was organized using BTC. The HonkHonk Hodl Group has raised 22 BTC worth nearly $1mln through the Tallycoin BTC fundraising platform. It is expected that these funds will be distributed among the protesters.

Image: ZDNet