The Ontario regulator flagged tweets from Coinbase CEO and Kraken CEO to the Royal Canadian Mounted Police regarding the ongoing “Freedom Convoy” protests in the country as we can see more today in our latest cryptocurrency news.
The Ontario regulator contacted the Royal Canadian Mounted Police about tweets from Kraken and Coinbase CEOs regarding the protests in Ottawa. The OSC manager of public affairs Kristen Rose said:
“We are aware of this information and have shared it with the RCMP and relevant federal authorities.”
The tweets published by the CEOs seemed to criticize the Canadian government’s invocation of the Emergencies Act as a response to the convoy protests. Armstrong tweeted that the self-custodial wallets are important and that it was quite concerning that under the Emergencies Act, the banks can freeze or suspend bank accounts without the court order. The wallets are controlled by an individual rather than a third party which makes it impossible for law enforcement to freeze the funds.
Concerning to see stuff like this happening in any country, especially such an economically free place like Canada.
Self-custodial wallets are important! ->https://t.co/ppIvaIcWWh https://t.co/nJw2EhyJhd
— Brian Armstrong – barmstrong.eth (@brian_armstrong) February 15, 2022
Powell’s tweet on the other hand advised people not to fund the causes from custodial wallets adding that the individuals should withdraw to non-custodial wallets before they send the funds. Powell donated to the convoy protests and sent one BTC to HonkHonkHondl which is a fundraiser in support of the protests against Canada’s COVID-19 vaccine policy. He warned that the exchange could be forced to comply with law enforcement and urged users to remove their holdings from the platform if they are concerned.
The OSC decision came after a ruling issued by the Ontario Superior Court judge a week ago whcih ordered the freezing of millions of dollars and crypto amid the COnvoy protests. The Mareva Injunction is the first of its kind targeting BTC and other cryptoassets that restrained protestors from selling, removing, or transferring any of the assets that were raised in relation to the protests. The order targeted others that held assets for the convoy protestors themselves and these include prominent Canadian banks like ATB Financial, TD Canada, and more.
"captured" being the key word. Crowdfunding platforms now regulated under the Canadian Terrorist Financing Act. Do you see where this is going? Please do not fund causes directly from custodial wallets. I'm sure freeze orders are coming. Withdraw to non-custodial before sending. https://t.co/OBDFbrUpBy
— Jesse Powell (@jespow) February 15, 2022
The entities and individuals targeted by the injunction are compelled to provide a “Sworn statement” that described the nature, value, and location of the assets and if they don’t comply, the government could find them in contempt of court.
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