Canadian govt may take action against CEOs of crypto exchanges on their advices to protestors

Canadian govt may take action against CEOs of crypto exchanges on their advices to protestors 2

The government agencies of Canada will investigate if Chief executive officers of Centralized crypto exchanges acted as catalysts to push convoy freedom protests in Canada. 

Recently the Canadian government imposed an Emergencies Act to bring better control on the Protesters of the Convoy freedom campaign. To bring better restrictions and control on the protestors, the government forced every centralized crowdfunding or financial service including Centralized crypto companies not to give services to these protestors and also to report the government agencies if their customers are involved in the protests in any way of medium like funding or having any direct or indirect relationship. 

In response to such decisions by the government of Canada, a few crypto proponents raised their voices and suggested people go with self-custodial crypto wallets so that people can use their funds under full freedom. 

In particular, Kraken CEO Jesse Powell suggested people keep the funds out of the Centralized exchanges because centralized exchanges may be forced.

 And also Brian Armstrong, CEO of US-based crypto exchange Coinbase, tweeted a similar tweet against the situations in Canada. 

According to reports, the Ontario Securities Commission (OSC) reported these tweets of Centralized exchange’ CEOs to the federal police. 

Federal police will investigate if these tweets by such exchange’ CEOs were against the latest imposed Emergency Act or not. 

In the present time, Self-custodial wallets are causing a very big issue against the Canadian government to stop the funding to protestors. 

Recently the Canadian government asked Nunchuk, a self-custodial Bitcoin wallet, to give details of people belonging to the Protestors of Canada. 

The team of Nunchuk stated that they are not collecting details of their users, instead, they are providing software services only. 

Read also: Russian Finance Ministry introduces its drafted crypto bill against Central Bank decision