The Canadian securities regulator, the Ontario Securities Commission (OSC), reported the tweets to the federal police on the grounds that it felt the crypto executives were providing advice on how to circumvent the restrictions put on the funds, according to a report from The Logic. Notably, Twitter accounts of Kraken CEO Jesse Powell and Coinbase CEO Brian Armstrong expressed their dissatisfaction with the invocation of the Emergencies Act and their support for non-custodial cryptocurrency wallets, with Armstrong pushing his company’s product. Armstrong tweeted: Likewise, Powell wrote:
Non-custodial wallets
Generally, it is more difficult for law enforcement to confiscate or freeze money in non-custodial wallets since they are held by a person rather than a third party like a cryptocurrency trading platform. This was highlighted in a recent Finbold report when the Ontario Superior Court of Justice sent Nunchuk a self-custodial Bitcoin wallet a Mareva Injunction, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign. However, due to the fact the wallet is self custodial and only software, the team responded to the request: The OSC’s manager of public affairs, Kristen Rose, stated the regulator is “aware” of tweets made earlier this week she said: The Canadian government has ramped up its efforts to derail the flow of funds to the demonstrators after Canadian Prime Minister Justin Trudeau invoked the Emergency Act putting sanctions put on crypto transactions. Since then, the national police have issued an order requiring all FINTRAC-regulated organizations in Canada to stop interacting with 34 cryptocurrency wallets linked to the trucker’s protest. Related guides:How to Buy Bitcoin in CanadaHow to Buy Ethereum in CanadaHow to Buy Cryptocurrency in Canada
