Canada Regulating Crowdfunding Platforms, Cryptocurrencies Under the Terrorist Financing Act

Contact Your Elected Officials
The Epoch Times Header

The Canadian federal government is now regulating crowdfunding platforms and cryptocurrencies under the Terrorist Financing Act, Deputy Prime Minister Chrystia Freeland announced on Monday.

Freeland announced the measures at a press conference, shortly after Prime Minister Justin Trudeau declared a state of emergency due to the ongoing protests against COVID-19 mandates and restrictions by truckers and their supporters.

The measure effectively broadens the scope of antiโˆ’money laundering rules in the country and directs banks to freeze accounts of entities involved in the protests as it looks to put an end to what it says are illegal blockades.

โ€œThe illegal blockades have highlighted the fact that crowdfunding platforms and some of the payment service providers they use are not fully captured under the Proceeds of Crime and Terrorist Financing Act,โ€ said Freeland.

Freeland said that beginning Monday, all crowdfunding platforms and their payment service providers are required to register with the countryโ€™s national financial intelligence agency and report large and suspicious transactions.

Companies whose trucks are used in blockades will have their corporate accounts frozen and their insurance suspended, Freeland added.

It comes after GoFundMe on Feb. 4 said that it wonโ€™t be giving the CDN$10 million ($8 million) raised to support the truckers protesting COVID-19 mandates to the organizers anymore, saying it will instead work with the organizers to send the funds to โ€œestablished charities verified by GoFundMe.โ€

โ€œFollowing a review of relevant facts and multiple discussions with local law enforcement and city officials, this fundraiser is now in violation of our Terms of Service (Term 8, which prohibits the promotion of violence and harassment) and has been removed from the platform,โ€ the fundraising platform said in a statement at the time.

GoFundMe added that it has โ€œevidence from law enforcement that the previously peaceful demonstration has become an occupation, with police reports of violence and other unlawful activity.โ€

GoFundMe had earlier put a freeze in withdrawal of the funds as it undertook a review โ€œto ensure it complies with our terms of service and applicable laws and regulations.โ€

Supporters then raised $900,000 in bitcoin to support the convoy, Business Insider reported.

The โ€œFreedom Convoyโ€ began as a protest against the federal governmentโ€™s COVID-19 vaccine mandate for drivers crossing the U.S.โ€“Canadian border, but became a large movement as many across Canada opposing various COVID-19 mandates and restrictions joined the protest.

Protesters have vowed to stay put until COVID-19 restrictions are lifted.

Trudeau on Monday became the first prime minister to invoke the Emergencies Act, which replaced the War Measures Act in 1988.

Omid Ghoreishi and The Canadian Press contributed to this report.

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

AI is Now an Existential Threat

We now see evidence that artificial intelligence is an existential threat to our future. It is coming to take American jobs!

With or without

The mullahs of Iran have been at war with the West, particularly the US, for half a century and Iran is also the worldโ€™s foremost champion of terrorism.

Artificial Intelligence Equals Awful Iniquities

WSJ article โ€œAI is Learning to Escape Human Controlโ€ said in 79 of 100 trials, the o3 AI code systems edited their own code to prevent human shutdown!

VIDEO: Deranged Feminist vs. Mating Ducks in Epic Public Meltdown

A middle-aged white lady lib harasses mating ducks to โ€œstop it!โ€ because the rough sex they enjoy appears non-consensual on the part of the female.

RFK Jr. Slashes ALL U.S. Funding For Bill Gatesโ€™ Global โ€˜Vaccine Allianceโ€™

Robert F. Kennedy, Jr. recently pulled all U.S. government funding from Bill Gatesโ€™ Global โ€˜Vaccine Allianceโ€™ GAVI.

Musk Again Wades Into Politics, Calls GOP Bill โ€˜Insane and Destructiveโ€™

โ€œThe latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!โ€ Musk wrote in a Saturday post on X.

Nevada Seen as Case Study in Rapid Urban Sprawl Amid a Water Crisis

Nevadaโ€™s rapidly growing population has reached a critical intersection with the regionโ€™s worsening water crisis, according to experts.

US Streamlines Rule for Fining Illegal Immigrants, Will Issue Nearly $1,000 Daily Fines for Noncompliance

DHS and DOJ announced a new joint federal rule that streamlines the process of issuing fines for illegal immigrants, making it easier and more efficient.

Man Indicted on 12 Hate Crime Charges in Attack on Boulder Demonstration for Israeli Hostages

Boulder, CO man accused of hurling Molotov cocktails at demonstrators supporting Israeli hostages indicted by grand jury on 12 hate crime counts.

Canada-US Trade Talks Will End Until โ€˜Certain Taxesโ€™ Are Dropped, Trump Stresses

Trade discussions between Canada and the United States will end โ€œuntil such time as they drop certain taxes,โ€ U.S. President Trump said in an interview.

Trump Says US to Send Tariff Letters to Trade Partners Before July 9 Deadline

President Donald Trump said Sunday he will soon send letters to trading partners detailing the tariffs to be imposed on their exports to the United States.

Trump Says He Found a Buyer for TikTok

President Trump said he found a buyer for the Chinese-owned short video application TikTok, and that he will reveal the group in roughly two weeks.

Termination of โ€˜Wasteful Contractsโ€™ Saves US Government $470 Million Last Week: DOGE

Over the past seven days, various government agencies have terminated 312 โ€œwasteful contractsโ€ with a ceiling value of $2.8 billion, the DOGE said.
spot_img

Related Articles