Canada targets crypto donations to protestors after Trudeau invokes Emergencies Act to quell anti-government demonstrations

Canadian Prime Minister Justin Trudeau.

ANDREJ IVANOV/Getty

• Prime Minister Justin Trudeau invoked the Emergencies Act in response to Canadian trucker protestors.  
• The government also expanded anti-money laundering and counter-terrorist financing rules to include crowdfunding and crypto.
• The move comes after Canadian truck protestors raised more than $1 million in bitcoin.

Canadian Prime Minister Justin Trudeau invoked the Emergencies Act on Monday in response to the truck drivers protesting pandemic mandates in Ottawa, and included in the response is more scrutiny into cryptocurrency donations and fundraising for protestors.

The move comes after the truckers, who have blocked bridges critical to international trade, raised more than $1 million in bitcoin before the organizers closed their fundraising page. 

Under the Emergencies Act, the government can use its power to freeze or suspend bank accounts without a court order or liability, among other things.

This marks the first time a Canadian leader has invoked the rule since the law was passed in 1988. It allows for military intervention, but the prime minister said he has no plans to call in troops.

In addition, the government will also expand the reach of the country's anti-money laundering and counter-terrorist financing rules to include cryptocurrency transactions and crowdfunding platforms. 

Payment service providers and crowdfunding servers must now report transactions to the government by registering with the Financial Transactions and Reports Analysis Centre of Canada.

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