Canadian authorities have instructed crypto exchanges to discontinue servicing transactions for addresses related to the “illegal” Freedom Convoy protests.
On Wednesday, an order from the RCMP began making rounds on social media, with several major Canadian-based crypto exchanges confirming they were given instructions from law enforcement to cease transactions. Since then, 34 crypto wallets have been put on a blacklist, of which 29 are bitcoin addresses, with the remaining addresses linked to various other digital currencies, including litecoin and ethereum.
“Any information about a transaction or proposed transaction in respect of these address(es), is to be disclosed immediately to the Commissioner of the Royal Canadian Mounted Police,” read the order, as cited by the Globe and Mail. Since turning to cryptocurrencies as a means of financially supporting the anti-vaccine protestors, the convoy’s backers have already donated about 21 bitcoin, valued at around $1 million.
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The protestors were forced to abandon other mainstream crowdfunding platforms including GoFundMe, after Ottawa froze about $8 million in donations. Since Monday, the protests in the country’s capital and various other border crossings were labeled illegal as per the Emergencies Act, which Prime Minister Justin Trudeau invoked for the first time in Canadian history.
Information for this briefing was found via the Globe and Mail. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
