Did Justin Trudeau just prove the value of crypto currencies? Personally, I just never got into crypto because it became a wild speculation, rather than what it was meant to be. Maybe this will finally show the real value of crypto currencies - the anonymous transfer of money.

Quote
...This type of situation—one in which protesters are being freezed out by crowdfunding platforms, one in which the government is threatening to suppress demonstrations and surveil financial transactions—is precisely the use case for crypto, which may be why Canadian officials namechecked it in their Terrorist Financing announcement. Sure, collecting Bored Ape NFTs is cool and all, but crypto's real value lies in the fact that it's much harder to trace back to its sender, allowing pseudonymous donors to support whichever political causes they want to, no matter how transgressive. The more intermediaries you layer on, the more opportunities for surveillance, but person-to-person crypto transfers would be quite easy to pull off without reporting to FINTRAC.

These reporting requirements already exist for banks in Canada dealing with large amounts of money, just as they do in the U.S. However, monitoring cryptocurrency transactions and crowdfunding donations is not nearly so simple; it's "unclear how they'd stop a large crypto transfer if no banks are involved," notes Reason's Zach Weissmueller on Twitter. If done properly, crypto transfers hold great surveillance-evading potential....


Read the whole thing at the link.

Onward and upward,
airforce