Jesse Powell warned during Canada’s trucking demonstrations that Kraken will be “forced to comply with government enforcement,” recommending concerned users to “Get your coins/cash-out.”
CEO of Kraken says the company cannot protect you from the Canadian government’s crypto-freeze
Kraken CEO Jesse Powell took to Twitter today to warn concerned users to get their crypto and cash off the exchange as the Canadian government continues to crack down on the recent ‘Freedom Convoy’ trucker protests.
When asked if Kraken will be forced to freeze accounts tied to the protests, Powell said, “100% yeah it has/will happen. We’ll have no choice but to obey.” If you’re concerned, don’t put your money with a centralized or regulated custodian. We are unable to safeguard you. He tweeted, “Get your coins/cash out and only trade p2p [peer-to-peer].”
Due process is for plebs. Might makes right in Canada. If someone dissents, you just confiscate their wealth, revoke their licenses, exclude them from the financial system and kill their pets. No need to debate the law, policy or even rights when you have a monopoly on violence. https://t.co/ksx9JpRwSg
— Jesse Powell (@jespow) February 17, 2022
On Wednesday, Prime Minister Justin Trudeau of Canada invoked emergency laws that allow the government to freeze bank accounts associated with the protest without having to go through the courts.
This includes any crypto wallets linked to the ‘Freedom Convoy,’ as well as any donations and operations tied to it. Canadian police officers have already urged cryptocurrency exchanges to freeze any transactions tied with dozens of crypto wallets linked to the protest.
Bitcoin proponents are emphasizing the cryptocurrency’s censorship resistance in the wake of the Canadian government’s response to the protests. The Canadian government imposed a slew of fines in the hopes of putting a stop to the weeks-long sit-in near the US border. Truckers have put up a roadblock with their lorries to protest various vaccine regulations imposed by the government.
Members of the Bitcoin community began making donations in crypto when police partnered with the crowdfunding portal GoFundMe to prevent $10 million in donations to the protesters.
“Fix the money, fix the world,” Powell said, donating one entire Bitcoin to the cause. Thank you for setting an example for others to follow. Mandates are unethical. Put an end to the craziness.”
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Also read: Kevin O’Leary says bitcoin won’t reach $300,000 until institutions are comfortable buying it
