Canadian police order freeze of crypto accounts over Freedom Convoy donations

In a letter obtained by the Globe and Mail, the Royal Canadian Mounted Police and Ontario Provincial Police tell several cryptocurrency exchanges they are investigating donations made to what they deem to be illegal activity under the Emergencies Act.

In response to ongoing anti-mandate protests taking place across the country, Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, giving the federal government extensive power. This is the first time the Act has been implemented since it was created in 1988.

The following day, an emergency order was issued that gave financial institutions the authority to freeze accounts and block financial services of accounts involved with the protests.

Police list over thirty specific crypto addresses that they want exchanges to "cease facilitating any transactions" with. "Any information about a transaction or proposed transaction in respect of these address(es)," they add, "is to be disclosed immediately to the Commissioner of the Royal Canadian Mounted Police."

According to CoinDesk, the list contains twenty-nine Bitcoin addresses, one Ethereum address, one Cardano address, one Ethereum Classic address, one Litecoin address, and one Monero address.

Some have argued that given the nature of crypto, freezing transactions will not be effective, as the digital currency is held by the individual, not the exchange, and can easily be moved to foreign exchanges that the Canadian police have no jurisdiction over.

Supporters of the Freedom Convoy and related protests have turned to crypto to make donations as of late, with CoinDesk reporting that twenty Bitcoins, worth over $1.1 million, have been sent thus far.

Mass organized protests against vaccine mandates began in January, and have since spread across Canada and the world, with the largest taking place in Ottawa. The ongoing demonstrations caused Prime Minister Trudeau to invoke the Emergencies Act, a move which many, including four premiers and the Canadian Civil Liberties Association, have questioned the necessity of.