So recently the gov of Canada enforced emergency powers and is telling banks to freeze assets of people involved in the convoy. The banks of course will comply and can freeze assets without any court order. Im not sure if its the people donating as well or if its donations over a certain sum but the point stands. The gov has the power to take your money as they see fit without any warning, and it wont be just the evil Russian/China governments doing so but the friendly Canadian one as well.
They are also trying to prevent crypto transactions. They can tell exchanges operating in Canada to freeze peoples accounts and of course the exchanges will have to comply just like the banks.
This is why you never keep your money on the exchange, because tomorrow the gov could decide to freeze your money.
Also a good reason to buy privacy coins like monero, although its going through a hiccup right now. But thats a different topic
Not your keys not your coin
Also Im not for/against the protestors. Thats a political debate, Im pointing out the fact that the gov can just freeze peoples assets as they deem necessary. Maybe WW3 breaks out with Russia and the gov needs money to fund the military so they say 10% from everyone’s account will be taken or whatever. Keep your coins safe.
Centralized is still centralized no matter how quick, cheap or nice your exchange is to deal with. When The Man comes around you’ll find its’s definitely not your crypto.
Not your keys, not your crypto.
It’s the golden crypto rule for a reason.
The government can come lock you up or shoot you in the head too… just saying. Having custody of your assets does not protect you from government intrusion.
You guys remember when this sub was anti-govmnt and anti-banks? Well, not today.
I got laughed at when I said the greatest threat to crypto will be when some right wingers use it to circumvent leftist cancel tactics and then suddenly its WhiteSupremacyCoin and needs to be regulated, gigataxed and business who deal in it be hammered.
You know big government simps like them hate crypto and were itching for an excuse to attack it.
I hold my staked amount for my crypto card on a cex. The rest is none existent if you know what mean
Lol.
Sadly, some people in this sub actually want government to have that sort of power over crypto
Been saying to buy Monero for years. It’s the real crypto
The government of Canada now gets to decide who has money and who does not.
Better ask the government permission before you do something legal, because they might decide its illegal later and takes all your money. 🙃
Anyone justifying this or defending it is a fucking joke and should unplug their keyboard permanently.
So the emergency act won’t be a permanent thing, also if your not one of the organizers for the protest I wouldn’t worry about your bank account being frozen. It’s not a doomsday scenario here ?
“we” dont hold crypto in exchanges. exchanges hold “our” crypto.
we dont own shit unless its under our private keys.
Whats going on with monero?
Too many people are only concerned about these realities AFTER it’s too late. A small amount in exchanges is fine. Anything you plan on holding long term should not be.
You are right
And do what with it ? Change countries to use them ? What if they restrict travel too …
Canadian people are nice, banks are not!
This is fucked. If this happens to Australia I’m out. At least here the ATO (our tax office) still needs a court decision to do this sort of shit.
This is a very valuable post.
Anything can happen at any moment without warning. There’s many historical protests going on in the world and it’s difficult to find out what is going on unless you go on Rumble or have a reliable news source.
The USA has the same capability to freeze assets. Europe on the other hand seems more at risk since it’s “more” corrupt. (Besides one country i can think about)
KEEP YOUR ASSETS SAFE. Assume the worst, protect , prevail ❤️
Amen. Crypto in a ledger. Money money money n no FREEZE
It’s amazing how little in this sub care about decentralization and freedom. Those are the two main reasons crypto was created and if you don’t care about them then you’re better off using traditional finance
Wow, very progressive.
Exactly why CBDCs are a horrible idea
If you live within the borders of a western nation, crypto isn’t going to help you avoid the government LOL. At best it can help you delay the consequences a bit.
Adoption is good but regulation is bad, right?
Do yourselves a favor and get a ledger backup pack
End the mandates…, by now you should know the correct path. Otherwise, you are siding with the creeps looking to lock up funds, get people fired, locked down, all having to display an Orwellian vax paasport, excessive fines for a peaceful protest, etc.
I know someone who had a bankruptcy and the government without a notice drained the bank account dry. The family had no money for food in the short term but the government/bank did not care. They took what they could. Just and example…
Scary shit. Unbelievable government overreach, but Canadians voted for that dude twice. Sad.
Everyone in canada needs to pull all of their money from the banks.
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Cexs will continue to spread their legs for governments. All your data is not safe there. Dexes will be huge in the future.
As much as I can’t stand antivaxxers or the American Right, I don’t think government overreach is the right answer to people complaining about possible government overreach.
Sincere question for anyone claiming these are terrorists funds and therefore okay to freeze.
Do you feel the same about BLM? If not, why? Was there not violent acts associated with those protests as well?
Go on the Canada subreddit…they love it. Everyone there is a ultra left wing boot licker who is happy this is happening 😂
I bet 99 percent of them aren’t even Canadian but paid trolls
How would you even use crypto without banking access??
This has nothing to do with crypto, stop shitposting
I have no problem with the government freezing terrorists funding.
https://np.reddit.com/r/AmericanFascism2020/comments/snw7jn/this_racist_nazi_dumbfuck_is_pat_king_one_of_the/?utm_medium=android_app&utm_source=share