Canada invokes ‘Emergencies Act’ targeting crowdfunding and crypto
Canadian Prime Minister Justin Trudeau has invoked the Emergencies Act, which gives him the power to freeze Freedom Convoy protesters’ bank accounts and monitor “large and suspicious transactions,” including crypto.
Deputy Prime Minister Chrystia Freeland said in a press conference on Feb. 14 that this latest tactical maneuver against the protesters broadens the scope of Terrorist Financing rules. It targets “crowdfunding platforms and the payment service providers they use.”
Together, protesters had amassed over $19 million in funds through the fundraising platforms GoFundMe and GiveSendGo. However, those funds have been blocked from reaching the convoy, leading some to organize a fundraising round using Bitcoin (BTC).
The HonkHonk Hodl group raised 22 BTC valued at nearly $1 million through the Tallycoin BTC fundraising platform. HonkHonk Hodl closed their Tallycoin page on Feb. 15 because they had exceeded their fundraising goal. Those funds are still expected to be distributed to protesters.
The Tallycoin bitcoin fundraiser supporting the Canadian Freedom Convoy protests has been voluntarily shutdown by organizers. Known private key holders have transferred funds to new key holders. pic.twitter.com/9cgwlaroZ1
GoFundMe cooperated with Canadian officials and refunded donors, but GiveSendGo has experienced an information leak exposing the identity of “thousands of names of those who donated to the Freedom Convoy” according to The Daily Dot writer Michael Thalen. There is no word yet on the fate of the Convoy’s funds.
A file allegedly containing tens of thousands of names of those who donated to the Freedom Convoy has also been leaked.Working to verify further details.
BBC News reported that Quebec Premier Francois Legault
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