Canada: Nunchuk Rejects Crypto Asset Freeze Request Issued by Court of Justice

Canada: Nunchuk Rejects Crypto Asset Freeze Request Issued by Court of Justice

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Justin Trudeau and his team found nothing better than brutal ways to contain the movement ” Freedom Convoy ”: manu militari repressions, freezing of bank accounts and recently invoking the Emergency Act to limit cryptocurrency transactions.

The top-down is given

Recently, Cointribune reported details of the Canadian government’s moves to cut funding for anti-vax truckers squatting parts of Ottawa’s streets. This was manifested in the freezing of the protesters’ bank accounts, and by the same token their crypto wallets.

Thus, he decided to move up a gear to limit, or even destroy, the financial support of the Freedom Convoy movement.

On February 22, the State, through the Supreme Court, issued an injunction to Mareva against Nunchuk, ordering him to freeze and disclose information about the assets involved in the said campaign.

In response, the self-custody bitcoin wallet began by describing the nature of its service. Indeed, Nunchuk is none other than a ” collaborative and self-custodial multi-sig bitcoin wallet “. Consequently, he will not be able to take on the role of depositary financial intermediary since he is, quite simply, a ” software provider “.

The Nunchuk team added that:

We do not collect user identification information beyond email addresses. We also do not hold keys. Therefore, we cannot ‘freeze’ our users’ assets. We cannot ‘prevent’ them from being moved. We have no knowledge of the ‘existence, nature, value and location’ of our users’ assets. It’s on purpose. »

This Nunchuk tweet was posted as an acknowledgment of the Ontario Supreme Court’s injunction.

Prohibition of cryptocurrencies, a utopia?

This start-up’s response to the order to freeze and release information about funds fueling the truckers’ movement highlights the censorship and enforcement issues of anti-crypto campaigns.

The Canadian government must remember that the issue of anonymity is the basis of the success of bitcoin and other cryptocurrencies. You will have more details on this by taking a look at our comparative article on crypto wallets, public/private keys and wallet addresses. In particular, there are details on the importance of private keys in this wonderful world of cryptography.

The Royal Canadian Mounted Police (RCPM) or the Royal Canadian Mounted Police should have learned from this situation when it took measures to stop interactions with 34 cryptocurrency wallets linked to the Freedom Convoy 2022.

If things were that easy, the Canadian state would have already claimed victory after the freezing of donations of 9 million dollars collected on GoFundMe. Unfortunately for the executive, cryptocurrencies are not as easy to contain or freeze. And that is their strength, in fact.

Source: Finbold

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Mikaia ANDRIAMAHAZOARIMANANA avatar

Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy of this World, against all hope, I will say that I had something to do with it

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