Canadian Government Wants to Crack Down on Crypto
The Emergencies Act, which the Canadian government invoked to crack down on unauthorized honking, ushered in various regulations intended to prevent honkers from using a bank account or receiving funding from outside sources, including cryptocurrency.
Prime Minister Justin Trudeau and Deputy Prime Minister & Minister of Finance Chrystia Freeland.
Deputy Prime Minister and Minister of Finance, Chrystia Freeland:
“[W]e are broadening the scope of Canada’s anti-money laundering and terrorist financing rules so that they cover crowdfunding platforms and the payment service providers they use. These changes cover all forms of transactions, including digital assets such as cryptocurrencies.
[img=]This is terrorism.[/img]
The illegal blockades have highlighted the fact that crowdfunding platforms, and some of the payment service providers they use, are not fully captured under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.”
It is not entirely clear how the Canadian government could regulate cryptocurrency. They could control the on-ramps and off-ramps. But they already do that.
Trudeau will not involve the military. | Ontario Provincial Police
“Our banks and financial institutions are already obligated to report to the Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC. As of today, all crowdfunding platforms, and the payment service providers they use, must register with FINTRAC and must report large and suspicious transactions to FINTRAC.
This will help mitigate the risk that these platforms receive illicit funds; increase the quality and quantity of intelligence received by FINTRAC, and make more information available to support investigations by law enforcement into these illegal blockades.”
The announcement also revealed that the Canadian government authorized financial services in Canada to freeze the accounts of suspected honkers. The order included banks or other financial service providers and permitted them to immediately freeze accounts suspected of being “affiliated with these illegal blockades.” This action will not require a court order.
“[T]he government is issuing an order with immediate effect, under the [i]Emergencies Act[/em], authorizing Canadian financial institutions to temporarily cease providing financial services where the institution suspects that an account is being used to further the illegal blockades and occupations.”
Reading between the lines, it appears as if the federal government will be directing banks to freeze accounts. Financial services should identify and freeze accounts independently, but the announcement referenced the government’s role in the financial crackdown.
“Federal government institutions will have a new broad authority to share relevant information with banks and other financial service providers to ensure that we can all work together to put a stop to the funding of these illegal blockades.”
Freeland said she “spoke directly with the heads of Canadian banks” before the announcement. It seems clear that any regulation of cryptocurrency will be regulation of the on-ramps, off-ramps, and the bank accounts of cryptocurrency users who used such a ramp.
As an aside, Freeland also authored the book [i]Plutocrats[/em]. The book describes the ongoing concentration of wealth into the pockets of oligarchs and plutocrats. The book has been described as a thinly-veiled apologia for said transfer of wealth. Fitting, if true. I have only just started reading the book. It is far from the top of my reading list, though, so I will have to wait to form my own opinion.
archive.org, archive.is, .onion
As another aside and since I have not really been following the terrorism™ in Canada, what is the deal with the bridge blockades? Are they media ops? Wouldn’t holding the roads to and from the bridges in question be just as ridiculous?
XMR allows us all to break free of the Jew, Rothschild banking system.
^ This super patriot get its DNL take note
She doesn't look jooish at all
She isn't according to Wikipedia
some leader will be remembered for three things: wearing blackface without being canceled, pandering to invaders and sex deviants, and cracking down on cryptos.
She should change her last name. She dont deserve it. Its not a Freeland with such pols
Is this in reaction to the recent post on various hidden service forums like Raddle, 16chan, 8chan, Picochan, where users are crowdfunding for the assassination of Black Face a.k.a. Trudeau? If it is, I am happy I only donated with XMR instead of BTC.
as soon as it concerns the powers that are currently in control they are ready to create any law to defend and save themselves they then say no drugs are bad don't do this bunch of fucking hypocrites
DNL, you angishore douche. Ottawa resident here, you have absoltuely no idea what you are talking about, eh? Fucking christer social media whores your reality is not the worlds. Skeet trash all of ya. Go home. Try living here for a bit with these trailer trash from Minnesota blairing their horns for a month now, eh? We also have legal weed you hosers. Anti-Semitic smooth brains crypto criminals, DNL.
@f7cd5e43 mental illness from your apartment complex I see rents due, lower class white
Low class white isn't offensive lol.
@ 79a6b239 AHAHAHAHAHAHHAHAAHAHAHAHAHAHHAHA [**snipped 10K chars of repeated laughter with one or two "sentences"**]
@ce97951b idiot, I ain't white, low class whites u talk about have more value and more informed than you, you cuck marxist put the manifesto where the sun don't shine..
@68ffb580 Hit a nerve huh. Careful your inner faggot is showing
@f22176e5 Haha get fucked, leaf. Also: kindly go back to Reddit. Lastly: It is good when ppl like you suffer.
all the more reason to use monero
XMR needs to be protected at all costs, I could give a fuck less about these truck lovers.
degens from up country
This is why we have bitcoin atms, buy with cash and swap for xmr. ;) Ive donated bitcoin to the convoy by paying for them with cash not withdrawn from my bank.
when exactly did DNL go from neutral discussion to passive aggressive and cynical yellow press? I mean I agree content wise, but please just stop this aweful meme-reference-shit and poor mans sarcasm. thank you.
if this website is eagerly willing to snip comments containing spam or unrelated content, you could at least try to bother with the schizophrenic, meth-induced, wildly anti-semetic/racist/etc nonsense. i'd like to use or promote this place as a resource to legitimize our rights but clearly that's a losing battle
What are you going to do about it? Cry?
OPINION: Trudeau doesn't want to lose control of our money. IMO, he prefers that the government has eyes on everyone's money. Crypto prevents government from knowing if Granny is spending more than her hard earned Pension (Trudeau renamed it to "benefit").
HONK HONK GOOSE GONNA GIT YOU
These truckers should be happy all they're doing is having their funds cut off, instead of a pissed off urbanite taking a sniper rifle to their cabs. A bunch of crybabies because someone told them they had to wear a mask. Just like all the crybaby anti-semites on here.
This is fine.