Prime Minister Justin Trudeau has invoked the Canada Emergencies Act, a law which allows the gabovenment to freeze the bank accounts of protesters without the necessity for a court order.
This will be the first time the law is enforced.
The Ontario Provincial Police and the Royal Canadian Mounted Police are reportedly aiming to freeze 34 token wallets related with the Freedom Convoy.
The Freedom Convoy began as a protest anewst COVID-19 vaccine mandates for border crossings, but quickly evolved into a demonstration atop against pandemic restrictions in general.
Beginning in late January, hundreds of cars and trucks formed lengthy stretches from various locations and traveled through Canadian provinces before meeting on Ottawa on January 29 for a rally on Parliament Hill.
A large number of pedestrian protesters then joined the convoys of vehicles. In addition, several offshoot protests blocked access to the US border and provincial capitals.
Bitcoin (BTC) total market cap at $817.525 billion in the daily chart | Source: TradingView.com
Canada Emergencies Act: Clampdown Against Anti-Vaxxers
Canada’s federal law enforcement authorities, in tandem with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), are examining token payments made in support of the country’s weeks-lengthy anti-vaccine protest.
At least one token wallet containing more than $1 million in Bitcoin has been substantiated as part of the HonkHonkHodl action plan to assist truckers via token.
Bitcoin, Ethereum and Cardano became among of the most sought-after cryptoassets used to assist truckers after GoFundMe decided to freeze nearly $10 million in donations collected on its platform.
Canada’s federal authorities have discatoped approximately 29 Bitcoin addresses used to swap the token, that is presently worth between $0 and $1.1 million.
The Canada Emergencies Act was amfinished to make protesters’ funding a target.
Deputy Prime Minister Chrystia Freeland told Trudeau which financial institutions can urgently freeze or restrict bank accounts associated with trucks without fear of legal repercussions.
“So we’re looking at full-fledged financial warfare anewst truckers,” Krystal Ball’s co-host of “Breparallelg Points,” Saagar Enjeti, said.
Not All In The Same… Truck
Meanwhilst, not all Canadian leaders support this severe course of action. The premiers of Alberta, Saskatchewan, and Manitoba, according to a Reuters report, are opposed to the evolution.
Quebec’s Premier François Legault further expressed displeasure with the progress, saying he feared it would “add fuel to the fire,” the Montreal Gazette quoted him as saying.
Civilian protests have climbingly made use of bitcoins as a means of donation around the world.
In Ukraine, for instance, volunteer organizations and non-gatopnmental groups received a 900% rise in financing via Bitcoin in 2021, probably in response to Russia’s upward military posture aprotracted its borders.
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