Key facts:
The police warrant includes 34 bitcoin and other cryptocurrency wallet addresses.
The wallets indicated in the order would contain about 25 BTC equivalent to more than USD 1 million.
In a new move by the Canadian government to block funds raised by the “Freedom Convoy 2022” movement, the Federal Police of that country added 34 bitcoin addresses and other cryptocurrencies to a blacklist sent to institutions. regulated finance.
The Royal Canadian Mounted Police (RCMP) ordered companies registered with the Canadian Financial Intelligence Bureau, stop making transactions with the wallets on the list. This was stated by The Counter Signal, which released the information on the afternoon of Wednesday, February 16.
The release of the RCMP alleges that they act within the framework of the “Emergency Law” decreed by the Prime Minister, Justin Trudeau, last Monday the 14th. The police force reported that bitcoin addresses are under investigationfor being associated with raising funds to finance “illegal acts”.
The Canadian police authority refers to the HonkHonkHodl campaign, created to finance the logistical expenses of the group of truckers who have participated in protests in the capital Ottawa since last January 28. As CriptoNoticias reported, the protesters, who oppose mandatory vaccination, turned to fundraising in bitcoinonce the Canadian government blocked other forms of crowdfunding, such as GoFoundMe.
blacklisted 29 bitcoin (BTC) addresses listed with assets of about 25 bitcoins, equivalent to more than USD 1 million. In addition, the list includes addresses of 5 other cryptocurrencies such as ether (ETH), litecoin (LTC), ethereum classic (ETC), monero (XMR) and cardano (ADA).
Additionally, the RCMP asked regulated financial institutions share any movement involving the addresses on the list. “Any information regarding a transaction or proposed transaction relating to these addresses should be disclosed immediately to the Commissioner of the Royal Canadian Mounted Police,” the statement said.
Is it game over for Canadian truckers?
It should be remembered that one of the recognizable characteristics of Bitcoin is its resistance to censorship. If the funds raised in bitcoin and other cryptocurrencies by the Freedom Convoy are kept in self-custody wallets, they would have options to exchange their holdings for Canadian dollars.
Unspent Transaction Mixing (UTXO) services, which use tools such as coin join, as well as peer-to-peer exchanges could become viable alternatives for protesters. However, the statement does not make it clear whether the Canadian authorities will use some kind of blockchain analysis service to try to expand the blacklist of addresses.
Some reactions on the social network Twitter show skepticism about the possibility that the Trudeau government can lock the funds in bitcoin. Some users believe that this type of action by the authorities only they will expose the resistance of Bitcoin, and will boost peer-to-peer trading.