HomeNewsCanada bars 34 crypto wallets from receiving funds amid trucker protests

Canada bars 34 crypto wallets from receiving funds amid trucker protests

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Royal Canadian Mounted Police, the federal police agency of Canada, has issued an order that seeks to block at least 34 crypto wallets that are receiving funds from supporters of the ‘Freedom Convoy’ trucker protests. Most of the wallet addresses were connected to Bitcoin, but some of them were associated with Ethereum, Litecoin, Monero, and Cardano as well.

The agency has ordered all FINTRAC-regulated institutions to restrict transactions associated with these wallets. FINTRAC, which stands for Financial Transactions and Reports Analysis Centre of Canada, has been the country’s financial intelligence agency since 2000.

Canadian authorities look to combat crypto and other forms of donations supporting the ongoing ‘Freedom Convoy’ trucker-led protests in the country. They recently ordered financial institutions to suspend or freeze personal or corporate accounts that are believed to be associated with protestors.

The latest move comes under the Emergencies Act enacted by the country’s Prime Minister Justin Trudeau after failing to tackle the mass trucker-led blockades through other means. As a background, an organized convoy of truck drivers began protesting against the COVID-19 vaccinate-or-quarantine mandate for cross-border drivers in the capital city of Ottawa.

The protest, which started small in the city of Ottawa, spread nationwide and resulted in the blockage of international bridges and border crossings in several provinces. With the Emergencies Act, the police and other federal agencies have a broader authority to remove demonstration vehicles and track online fundraising.





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