Friday, June 9, 2023

Kraken ‘Can’t Protect You’ From Canadian Government Freezing Crypto: CEO – Decrypt

As the Canadian government continues its crackdown on the recent ‘Freedom Convoy’ truck driver protests, Kraken CEO Jesse Powell took to twitter Today to advise concerned users to transfer their crypto and withdraw cash from exchange.

inquired about whether Kraken Accounts linked to the protest would have to be frozen, with Powell responding by saying “100% yes it has/will happen.”

“We will be forced to comply. If you are concerned about this, don’t keep your funds with a centralized/regulated custodian. We can’t protect you. Withdraw your coins/cash and trade only p2p [peer-to-peer],” He tweeted,

On Wednesday, Canadian Prime Minister Justin Trudeau called for emergency rules that Allowed the government to freeze bank accounts linked to the protest without going through the court system.

This also includes crypto wallets associated with ‘Freedom Convoy’ as well as any related donations and operations.

Canadian law enforcement has already done Told Cryptocurrency exchanges to block any transactions involving dozens of crypto wallets identified as being in connection with the conflict.

bitcoin and freedom convoy

Amid the Canadian government’s response to the protests, Bitcoin Advocates are highlighting the cryptocurrency’s resistance to censorship.

The wave of sanctions from the Canadian government was created in hopes of ending weeks of protests near the US border. Truckers have set up a blockade with their vehicles to protest the various vaccination mandates set by the country’s authorities.

After officials worked with crowdfunding platform GoFundMe to withhold $10 million in donations made to protesters, members of the bitcoin community began donating to crypto,

Powell himself donated an entire bitcoin to the cause, “Fix the money, fix the world. Thanks for leading by example. Mandates are immoral. End the madness.”

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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