The Truck Drivers’ Protest: Canada Updates the Anti-Money Laundering Laws, Crypto Is Included

15.02.2022 10:27
by Nina Petrov
1 min read

After weeks of truck drivers’ protest, the Canadian Prime Minister invoked the Emergencies Act. This move caused a lot of unease among Canadian citizens because the last time this Act was called upon was 34 years ago.

Trudeau stated that he was forced to call upon this act in order to keep citizens safe, protect their jobs, and restore faith in state institutions.

While the Emergencies Act allows military actions, Trudeau only opted for financial pressure to stop the protests. The banks can now either freeze or suspend protesters’ bank accounts, without a court order or civil liability.

At the same time, the state revised the anti-money laundering and counter-terrorist financing rules. The updated legislation now recognizes crowdfunding platforms and payment service providers as subjects to anti-money laundering laws, including crypto and other digital assets. The reason for such an urgent legal update was the fact that nearly $1 million was raised for the protesters on the famous crowdfunding platform Tallyco.in.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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