A Canada Court Asked a Wallet Provider to Reveal User Information and Freeze User’s Bitcoin
Canada Court Strengthen Its Move
Nunchuk, a self-custodial wallet provider, has been received a court order which asked them to provide users’ data and freeze users’ assets. The team has replied clearly that they can not do what the court asked because they are not “a custodial financial intermediary”.
On February 17, Superior Court Justice Calum MacLeod signed a Mareva injunction freezing assets linked to bank accounts, fundraisers, and cryptocurrency holdings such as Bitcoin, Cardano, Ethereum, Litecoin, and Monero in over 120 wallets raised for the freedom convoy protest. According to Justice MacLeod, convoy organizers are prohibited from selling, removing, dissipating, alienating, transferring, assigning, or encumbering any of the listed assets. The court has asked the wallet provider Nunchuk to follow the Mareva injunction but it’s failed.
According to Paul Champ, the lawyer representing Ottawa residents, the Mareva order is the first order to target cryptocurrency transactions. Residents of Ottawa have filed a class-action lawsuit against the freedom convoy protestors, seeking up to $20 million in donations from around the world. The Mareva injunction secures assets for the courts to reward residents with some of the protest money raised by organizers if the lawsuit is successful.
Many people believe that Canada citizens are now storing their money in Bitcoin and other cryptocurrencies because it is reported that they have recently withdrawn a massive amount of money from banks.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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A Canada Court Asked a Wallet Provider to Reveal User Information and Freeze User’s Bitcoin
Canada Court Strengthen Its Move
Nunchuk, a self-custodial wallet provider, has been received a court order which asked them to provide users’ data and freeze users’ assets. The team has replied clearly that they can not do what the court asked because they are not “a custodial financial intermediary”.
On February 17, Superior Court Justice Calum MacLeod signed a Mareva injunction freezing assets linked to bank accounts, fundraisers, and cryptocurrency holdings such as Bitcoin, Cardano, Ethereum, Litecoin, and Monero in over 120 wallets raised for the freedom convoy protest. According to Justice MacLeod, convoy organizers are prohibited from selling, removing, dissipating, alienating, transferring, assigning, or encumbering any of the listed assets. The court has asked the wallet provider Nunchuk to follow the Mareva injunction but it’s failed.
According to Paul Champ, the lawyer representing Ottawa residents, the Mareva order is the first order to target cryptocurrency transactions. Residents of Ottawa have filed a class-action lawsuit against the freedom convoy protestors, seeking up to $20 million in donations from around the world. The Mareva injunction secures assets for the courts to reward residents with some of the protest money raised by organizers if the lawsuit is successful.
Many people believe that Canada citizens are now storing their money in Bitcoin and other cryptocurrencies because it is reported that they have recently withdrawn a massive amount of money from banks.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
Canada Canada Canada
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