{"id":8718,"date":"2022-02-24T20:29:27","date_gmt":"2022-02-24T20:29:27","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/canada-joins-lebanon-and-turkey-in-bitcoins-marketing-team\/"},"modified":"2022-02-24T20:29:28","modified_gmt":"2022-02-24T20:29:28","slug":"canada-joins-lebanon-and-turkey-in-bitcoins-marketing-team","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/canada-joins-lebanon-and-turkey-in-bitcoins-marketing-team\/","title":{"rendered":"Canada Joins Lebanon and Turkey in ‘Bitcoin’s Marketing Team’"},"content":{"rendered":"
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Source: A video screenshot, Youtube\/Forbes Breaking News<\/figcaption><\/figure>\n

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The Deputy Prime Minister and Finance Minister of Canada has claimed that banks in the country could be asked to immediately freeze or suspend the bank accounts of individuals in the country, as the \u201ctruck drivers\u2019 protest\u201d over Canadian COVID-19 restrictions continues.<\/p>\n

The finance chief and Deputy PM, Chrystia Freeland, stated: \u201cWe are broadening the scope of Canada\u2019s anti-money laundering and anti-terrorist financial rules so they cover crowdfunding platforms and the payment providers they use.\u201d<\/p>\n

She added:<\/p>\n

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\u201cThese changes cover all forms of transactions, including digital assets such as cryptocurrencies.\u201d<\/p>\n<\/blockquote>\n

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This last statement will have been most worrying for the nation\u2019s many crypto enthusiasts, implying that such measures could also be used to impose cryptoasset wallet freezes and seizures.<\/p>\n

In theory, such measures can be enacted without the need for a court order or worries about civil liability.<\/p>\n

Freeland justified the government\u2019s stance, claiming:<\/p>\n

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\u201cThe illegal blockades have highlighted the fact that crowdfunding platforms, and some of the payment service providers they use, are not fully captured under [existing anti-terrorism legislation].\u201d<\/p>\n<\/blockquote>\n

The likes of Brian Armstrong, the CEO of the crypto exchange giant Coinbase<\/strong>, was quick to point<\/a> out that self-custody solutions could help anyone attempting to evade having the government reach into their bank accounts or crypto wallets.<\/p>\n

Google searches for terms like \u201cbank run,\u201d which briefly peaked in Canada on February 10, began rising again on the news \u2013 and are particularly high in Alberta and British Colombia, per Google Trends data.<\/p>\n

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Source: trends.google.com<\/figcaption><\/figure>\n

El Salvador\u2019s president Nayib Bukele, who has pioneered the adoption of bitcoin (BTC) as legal tender in his country, offered some stinging criticism of the nation so often held up as a bastion of level-headed liberal democracy.<\/p>\n

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Meanwhile, it appears that many of the protestors\u2019 international backers have been unveiled in a hack on the GiveSendGo<\/strong> Christian crowdfunding site that has helped back the protests to the tune of almost USD 9m.<\/p>\n

Vice reported that the \u201cnames and personal details of over 92,000 donors\u201d were briefly \u201cleaked online.\u201d The majority of donors appear to be United States-based, and many were reportedly religious groups or individuals. Many made reference to \u201ctyranny\u201d in the messages accompanying their donations, the media outlet noted.<\/p>\n

Some media outlets have suggested that some support has been sent to protesters in the form of crypto after the government moved to block bank transfers.<\/p>\n

The news follows developments in Lebanon, where \u2013 for a very different reason \u2013 the government is also reportedly considering freezing citizens\u2019 assets and delving into their bank accounts. The Lebanese government is reportedly considering the move as a last-ditch attempt to fight inflation. Meanwhile, as reported, the Turkish government is working on plans to get its citizens to hand in \u2018under the mattress\u2019 gold in its latest scheme to prop up the value of its national currency, the lira.<\/p>\n

But in all these cases, now Canada including, the solution, for bitcoiners, is the same.<\/p>\n

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Ryan Selkis, the founder and CEO of crypto researcher Messari<\/strong>, responded to the news by writing<\/a> that the Canadian government\u2019s move proved that BTC\u2019s \u201cnarrative remains the most important thing in crypto.\u201d<\/p>\n

He remarked that \u201ca modern democracy just labeled political opponents domestic terrorists.\u201d<\/p>\n

The protests \u2013 which have seen trade almost screech to halt in Canada due to extensive road blockages and closures \u2013 saw Ottawa enact a state of emergency earlier this month. But despite widespread condemnation from many international observers, who claim that QAnon conspiracy theorists and anti-vaxxers are behind the protests, others have claimed that draconian measures could compromise Canadian democracy.<\/p>\n

In an opinion piece, the New York Times wrote:<\/p>\n

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\u201cAllowing non-violent, even if disruptive, protest is an important tool for maintaining social cohesion in a polarized society.\u201d<\/p>\n<\/blockquote>\n

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<\/strong>
– Bitcoin Is More \u2018Public\u2019 Money than Central Bank-Issued Fiat Currencies
– Canadian Trucker Protesters Eye Bitcoin Amid Court-Ordered Fund Freeze<\/p>\n

– Canadian Tax Agency Launches Audit To Thwart Crypto Tax Evasion
– What’s Behind the KPMG Bitcoin & Ethereum Hype?<\/p>\n

– Ontario Teachers Keep Investing in FTX Which is Not Available in Ontario
– How Global Economy Might Affect Bitcoin, Ethereum, and Crypto in 2022<\/p>\n<\/p><\/div>\n