Canadian Police Urge Exchanges To Stop BTC, ETH Trades For Protesters

Time Stamp: February 17, 2022 7:11 AM
Source Node: 1177514

The Canadian police urges exchanges to stop bitcoin and ethereum trades for the truckers who are protesting over the COVID-19 vaccine mandates and we are reading more about it in today’s latest cryptocurrency news.

The Canadian police told exchanges to block and report trades associated with a few crypto wallets and this campaign is only a part of the actions to end the trucker blockades. Two of Canada’s biggest law enforcement agencies are telling crypto exchanges to block any transactions associated with dozens of wallets that are tied to the truckers who are protesting over the COVID-19 vaccine mandates and caused mayhem at the country’s borders and the capital city of Canada. The letter circulating on Twitter reveals that the Royal Canadian Mounted Police and the Ontario Provincial Police ordered financial institutions to cease facilitating transactions tied to certain wallets and to report any information or transactions that are linked to those wallets.

The wallets are mainly associated with BTC addresses but also include a few tied to Ethereum, Cardano, and LTC accounts. Canada’s leading newspaper The Globe and Mail reported that it obtained letters from the Police to crypto exchanges but didn’t specify which exchanges. Kraken and Coinbase as two of the most popular exchanges haven’t yet responded to the demands. The RCMP campaign against crypto addresses is a part of the sweeping series of measures that the government had undertaken to break the trucker blockades which have been going on for weeks now to protest the country’s COVID vaccine measures.

The measures include targeting bank accounts that are carrying out illegal activities and are being conducted under the Emergencies Act which Prime Minister Justin Trudeau invoked for teh first time since 1988. The legislation allows for the federal governemnt to take extra measures for 30 days. The blockades could cost Canada millions of dollars in lost trade and business revenue and can lower the quality of life for the citizens of Ottawa where the semi-trucks are located and are blaring their horns in residential neighborhoods for weeks.

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The reports show that the government’s measures argue that protesting is a fundamental right but that the truckers’ activities that are supported and financed by Americans amount to an illegal blockade. Most BTC and crypto advocates decried Canada’s decision to target the wallets as a heavy-handed violation of civil liberties.

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