Trudeau Invokes Emergencies Act to End Freedom Convoy Protests — Canada’s Terrorist Financing Rules Now Cover Crypto – Regulation Bitcoin News

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The Canadian government has called for the Emergency Act to address the Freedom Convoy protests, said Prime Minister Justin Trudeau. The scope of Canada’s anti-money laundering and terrorist financing rules is also being expanded to cover crowdfunding platforms and “all forms of transactions, including digital assets such as cryptocurrencies.”

Government of Canada Invokes Emergency Act

Canadian Prime Minister Justin Trudeau announced Monday that “the federal government has called on the Crisis Act to complete provincial and territorial capacity to deal with the blockade and occupations.”

This infrequent act, which Trudeau is the first prime minister to call for, gives the government interim powers it usually does not have. Trudeau said the new measures would be “geographically specific and targeted only to where they are needed.” They will also be “timed”.

The prime minister explained that he had called on the Crisis Act to deal with the Freedom Convoy protests, which began on January 28 by Canadian truck drivers opposing a vaccine or quarantine warrant. The protests closed a number of border crossings and paralyzed downtown Ottawa.

Chrystia Freeland, the Deputy Prime Minister of Canada and the Minister of Finance, detailed that one of the measures is to enable banks to freeze accounts, stating:

As of today, a bank or other financial service provider may immediately freeze or suspend the account of an individual or business affiliated with these illegal blockchains without a court order. By doing so, they will be protected from civil liability.

Freeland added: “We are serving a notice today: if your truck is used in these protests, your company accounts will be frozen. Your vehicle insurance will be canceled. Send your semi-trailers home.”

The Deputy Prime Minister continued: “These illegal blockades and occupation are causing serious damage to our economy, our democracy and Canada’s international reputation. They cannot continue. They will not continue.”

The Crypto Act of Canada covers Crypt Transactions

“As part of a call for the Crisis Act, we are announcing the following immediate actions,” Deputy Prime Minister Freeland further noted:

First, we are expanding the scope of Canada’s anti-money laundering and terrorist financing rules to cover crowdfunding platforms and the payment service providers they use. These changes cover all forms of transactions, including digital assets such as cryptocurrencies.

What do you think of Prime Minister Trudeau calling for the Crisis Act? Let us know in the comments section below.

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Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection between economics and cryptography.

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