Canada Targets Crypto Donations Via Emergency Act

Canadian authorities are determined to end the Anti-Vax campaigns by any means necessary, including cutting access to crypto donations by invoking the Emergencies Act. 

Deputy prime minister. Chrystia Freeland, who’s also the finance minister, announced that digital assets contributions would also be covered under the new law.

Canadian Protesters Seek Bitcoin Refuge

This move comes days after protestors moved the crowdfunding campaign to Tallycoin, a platform that accepts donations in Bitcoin. 

This action was necessary after GoFundMe canceled the Freedom Convoy Campaign on its platform. It claimed that this was due to reports of violence by protestors, but many believe it was due to government pressures. 

The protest started weeks ago after Canada issued an order mandating cross-border truck drivers to be vaccinated. What began as a simple protest by truck drivers soon turned into a nationwide anti-vax protest. 

In the beginning, several of the groups participating in the protest started using GoFundMe and GiveSendGo to ask for donations. Although they raised about $19 million, the funds couldn’t reach the protesters after the platforms blocked access.

This led some of the protestors to opt for crypto donations. HonkHonk Hodl group started crowdfunding on Tallycoin and raised 22 BTC worth nearly $1 million. The group closed their campaign today after exceeding their target.

Authorities Invoke “Emergencies Act”

However, the government believes that the only way to end the protest is by cutting access to funds for protesters. Hence, it invoked the Emergencies Act.

The Act, which was initially for Terrorist financing, now gives the prime minister the power to freeze protesters’ accounts and monitor “large and suspicious transactions.”

Not everyone agrees with the move to invoke the Act. According to the BBC, the Premier of Quebec Francois Legault warned that this could further escalate the issue. 

The Canadian Civil Liberties Association also claims the government didn’t meet the standards to invoke the law. 

And there it is…things are starting to get spicy. What an advertisement for #Bitcoin.

Bitcoin = freedom

And don’t forget it. https://t.co/EEPh8RBk0H

— Preston Pysh (@PrestonPysh) February 14, 2022

Those in the crypto community, including Preston Pysh of Pylon Holding Company, Nayib Bukele, and Neeraj Agrawal of Coin Center, have also commented on the issue believing that the move would serve as a major catalyst for crypto.

Are these the people who like to give lessons to other countries about democracy and freedom?

This is one of the top ranking countries in the “democracy index”?

Your credibility on these topics is now worth 0.pic.twitter.com/wCjh9bXwDt

— Nayib Bukele 🇸🇻 (@nayibbukele) February 15, 2022

However, the move is unlikely to have any negative impact on the crypto market. In the past 24 hours, the global market cap has risen by 4.3%, with the price of leading assets like Bitcoin and Ethereum rising in tandem.