October 1, 2022

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Canada failed to order personal wallet to disable bitcoins

Key facts:
  • Canada has ordered all banks and currency sites to freeze their users’ funds.

  • The order also includes cryptocurrencies, but a self-care wallet explains that it is not possible.

The High Court in Ontario, the capital of Canada, has issued an order to cryptocurrency providers to freeze the funds of users involved in the Freedom Conway. This was reported by the self-regulating bitcoin wallet company Nunchuk, which received the order on February 18 and announced that it could not comply with the action due to the nature of the bitcoin.

Posted on Nunchuk Twitter An excerpt from the document, which reads: .) Prevent ”.

In order to disable funding, such companies must urgently send them all the information they have about their users. It states in the next section that “it commands the intermediaries to immediately disclose and provide any and all records, including the presence, character, value and location of any money or property.”

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The Canadian court noted that the order was a precautionary measure against Mareva. Through this legal period a property freeze order is known, which prevents a defendant from transferring their property when prosecuted. The decision was taken by the government in order to stop funding in dollars Bitcoin Of the movement Independent convoy.

Freedom Convoy is a protest that began three weeks ago in Canada demanding the removal of truckers Vaccine requirements against Govit-19. Since then, the protest has not stopped growing and is building itself across borders and in various countries of the world. Some of them are France, Finland, Australia, USA and Spain.

Canadians and people from all over the world have joined the parade of truckers
Independent convoy. Source: The Liberal.ie / twitter.com

The movement has raised more than $ 10 million because the Canadian government stopped it by branding donations as encouraging illegal activities. That is why Independent convoy Bitcoin chose to raise funds, which is a type of money that the government cannot freeze if it is exchanged without intermediaries.

To which he replied nunchucks Made public in a letter to the Court of Canada. There he tells her, Wallet In personal custody, there is no way to freeze its users’ funds or send their information to them because they do not have access to it, Unlike cryptocurrency platforms, they act as intermediaries and contain data from their customers.

“Dear Ontario High Court Judge,

Nunchuk is a self-defense, collaborative, multicick bitcoin wallet. We are a software provider, not a security finance intermediary.

Our software is free to use. While protecting privacy, it helps people to eliminate single points of failure and save bitcoin as safely as possible.

We do not collect any user identification information beyond email addresses. We have no keys. So:

“Our users’ assets cannot be disabled.”

Cannot “block transactions”.

We do not know the “presence, nature, value and location” of our users’ assets.

See how self-defense and personal keys work. When the Canadian dollar is worthless, we will be here for you.

Sincerely,

Toxic group. “

Letter sent to Nunchuk, Ontario High Court by Nunchuk, the company that provides multi-signature Bitcoin wallets.

Centralized bitcoin transactions can freeze funds and send information to the government

Unlike Nunchuk, the CEO Centralized exchange Cragan, Jesse Powell, said that if the Canadian government demands information from its customers, it must pay 100%. Also, they can block and freeze the funds they want. A series similar to the one that took place in Argentina in 2001 is popularI will play.

According to the CriptoNoticias report, Kraken’s CEO also recommended Do not use crackers If they want the Government of Canada not to access their cryptocurrencies. Precisely, Jesse Powell said: “If you are worried, do not keep your funds with any centralized / regulated guardian. We cannot protect them. Buy and sell your cryptocurrencies only on P2P trading.

P2P is a servicePeerless»Or between colleagues, said in Spanish, which allows people to exchange their cryptocurrencies and national currencies without any intermediaries. In this way, they can avoid going to the bank or exchange to transfer money, which is given to the independent convoy to use their financing.

The Freedom Convoy has already amassed more than 21 bitcoins, which at the time of writing were worth more than $ 838,000. Kryptonius Calculator. Thus, Cryptocurrency in personal custody wallets are a way to avoid government regulation and freezing, which has created concern among Canadian residents. Because it endangers the financial freedom of the people.

The freeze on dollars and bitcoins is not the only move ordered by the government to disarm the movement. It acknowledged the repression and arrests of protesters in the streets. They report Canadians on social media with pictures and videos.

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