Canadian Prime Minister Justin Trudeau has repealed the Emergency Situations Act, introduced last week to deal with the Freedom Convoy protest group.
As Justin Trudeau stated in a press release, “the situation is no longer an emergency and existing laws and regulations are sufficient.” Isabelle Jacques, Assistant Deputy Treasury Secretary of Canada, told a parliamentary committee that “financial institutions are unfreezing accounts and the vast majority of accounts.”
Recall that earlier the Royal Canadian Mounted Police (RCMP) instructed financial institutions and cryptocurrency exchanges to block accounts and cryptocurrency wallets associated with the Freedom Convoy protest movement, and the Ontario Supreme Court issued a court decision to freeze cryptocurrency assets in the amount of about $ 20 million.
The lifting of the state of emergency in Canada does not mean the weakening of state control over the circulation of crypto assets in the country. On the contrary, the Canadian government announced that it was taking urgent measures to amend the rules for financial monitoring of cryptocurrency transactions, especially in terms of collecting and targeted distribution of funds in favor of the protesters.
According to government agencies, a new system for financial monitoring of transactions with crypto assets should be developed taking into account the provisions of the legislation on terrorism.
