The Canadian federal government is now regulating crowdfunding platforms and cryptocurrencies under the Terrorist Financing Act, Deputy Prime Minister Chrystia Freeland announced on Monday. Freeland announced the measures at a press conference, shortly after Prime Minister Justin Trudeau declared a state of emergency due to the ongoing protests against COVID-19 mandates and restrictions by truckers and their supporters. The measure effectively broadens the scope of anti−money laundering rules in the country and directs banks to freeze accounts of entities involved in the protests as it looks to put an end to what it says are illegal blockades. “The illegal blockades have highlighted the fact that crowdfunding platforms and some of the payment service providers they use are not fully captured under the Proceeds of Crime and Terrorist Financing Act,” said Freeland. Freeland said that beginning Monday, all crowdfunding platforms and their payment service providers are required to register with the …
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