Canada Evokes Emergency Act Against Freedom Convoy Protests: Targets Crypto

Canada’s Deputy Prime Minister Chrystia Freeland announced the new regulation on Monday as part of the Emergencies Act.

“We are broadening the scope of Canada’s money laundering and terrorist financing rules. The new regulation will include “crowdfunding platforms and the payment service providers they use. These changes cover all forms of transactions, including digital assets such as cryptocurrencies.” she commented.

Moreover, the new legislation will require crowdfunding platforms and payment providers to register with the nation’s financial regulator Fintrac. They will also have to report “large and suspicious transactions” to the watchdog.

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