Despite Recent Threats From Canadian Officials, Real Crypto or Decentralized Assets Cannot Be Frozen – Featured Bitcoin News - BitcoinEthereumNews.com
Over the last week, there‘s been a lot of discussion about Canada ’freezing‘ digital currency accounts that are associated with the Canadian trucker’s Freedom Convoy. Amid the topical conversation, it should be stressed that decentralized cryptocurrencies like bitcoin and ethereum, canot be frozen directly within the network. However, the Canadian government can flag specific digital currency addresses and take it even further, by asking centralized entities like crypto exchanges and payment processors to freeze the funds. Canadian Officials Can Flag Crypto Addresses and Threaten Exchanges, but They Can‘t ’Freeze Bitcoin Last week, the Canadian government and Prime Minister Justin Trudeau invoked the countrys Emergencies Act and enacted Canadas terrorist financing policy in order to blanket cryptocurrencies donations. Trudeau and the government did this to quell the protesters occupying the streets of Ottawa. The Canadian government managed to get Gofundme to shut down the Freedom Convoy‘s fundraiser and it flagged 34 crypto addresses allegedly associated with crypto fundraisers. Reports had indicated that Canada’s police sent letters to banks and crypto-asset exchanges and insisted that companies “cease facilitating any transactions” with the aforementioned flagged addresses. According to a number of financial institutions and crypto companies, the Royal Canadian Mounted Police (RCMP) did in fact send the