As we already reported, Canada is on fire these days – not literally, but metaphorically, for sure.
The Canadian government, for the first time, invoked the Emergencies Act in a bid to restrict the flow of funds to truck drivers protesting the country’s covid 19 restrictions.
It’s important to note that under the act, the government can freeze bank accounts without going through the court system.
They can also take a number of other actions to force an end to the demonstrations.
“We are broadening the scope of Canada’s anti-money laundering and anti-terrorist financial rules so they cover crowdfunding platforms and the payment providers they use.”
It’s been also revealed the other day that the Canadian lawmakers voted Monday night to extend the emergency powers that police can invoke to quell any potential restart of blockades by those opposed to covid restrictions.
Lawmakers in the House of Commons voted 185 to 151 to affirm the powers.
NPR.org notes the following:
“Prime Minister Justin Trudeau said earlier that the powers were still needed despite police ending the occupation of the nation’s capital by truckers over the weekend and police ending border blockades before that.”
Canadian moves are boosting the mass adoption of crypto
After what’s been going on in Canada and people are ending up with their bank accounts frozen, something is happening.
Check out this relevant tweet:
People withdrawing huge amounts of #MONEY said they were avoiding a possible #government measure announced in recent days by Justin Trudeau, Prime Minister of #Canada.
According to #Social networks, many Canadians are exchanging their money for #Bitcoin. #Crypto #cryptocurrency pic.twitter.com/HYd6GCpllv
— fervidelicious (@fervid_drolls) February 22, 2022
Anyway, things are heating up in Canada, and it’s important to watch because what’s been going on over there could become a precedent for other countries as well. Stay tuned for more news.
Crypto is seen as the way out
More publications are boosting the idea of crypto as the way out of a corrupted system.
You should check out more data in this article which is quite simply explaining how crypto can help people with their finances.