Canada is now allowing banks to freeze accounts at will without any legal oversight.
This means, that at the press of a button, they can ruin someone’s life overnight. In an instant loan payments will be missed, subscriptions cancelled, credit unavailable, all because of the power granted to the banks.
**This is a great time to advocate for cryptocurrency as a way to keep these banks from accidentally or intentionally holding your money hostage.**
To those who say “It’ll only affect a certain group I disagree with”, with anything this broad and with no accountability, do you think they will err on the side of caution or will they start blanketing this policy far and wide? Imagine for a moment that the mean neighbor two doors down realizes they can screw you over by claiming they saw you at a protest, are you willing to risk that future?