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Kraken

“Get your coins out of Centralized Exchanges” – CEO of Kraken warns

The CEO of Kraken has spoken out to address the Canadian government’s decision to allow unprecedented seizures of its citizens’ bank accounts.

Jesse Powell (Kraken CEO) slams the Canadian government’s decision to unlawfully seize its citizens’ bank accounts, disregarding every legal procedure. He further disclosed that Kraken would be forced to act following the government’s request for asset seizure. Powell warns all Kraken users to get their coins, cash, and assets out of the centralized exchanges.

Kraken CEO speaks against the Canadian Government 

Kraken CEO

Sharing a tweet on Thursday, the CEO of Kraken gave criticisms against the recent emergency orders from Justin Trudeau’s government that allows authorities to unlawfully seize Canadian citizens’ bank accounts without a legal court order. 

However, the Canadian government invoked the emergency action to shut off funding for the Freedom convoy protests currently blocking key routes in the country over the new COVID-19 laws. 

His Tweet read:

“Due process is for plebs. Might makes right in Canada. If someone dissents, you just confiscate their wealth, revoke their licenses, exclude them from the financial system and kill their pets. No need to debate the law, policy, or even rights when you have a monopoly on violence.”

Jesse Powell condemns the government’s decisions to ignore due process and execute the seizure of funds willingly. Canadian Deputy Prime Minister Chrystia Freeland disclosed in a press statement on Thursday that the freezing of bank accounts has commenced. Seizing of funds and denial of financial services are being dealt out to accounts linked to individuals involved in the Freedom convoy protest. 

 A part of the statement read: 

“Deputy PM Chrystia Freeland: “The names of both individuals and entities as well as crypto wallets have been shared by the RCMP with financial institutions and accounts have been frozen, and more accounts will be frozen.”

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Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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