Quote:
Originally Posted by afc wimbledon
I would assume a Government would just make it illegal to trade any crypto for fiat to anyone on pain of a decade in jail, except for through authorised banks.
I dont see any way inside a country that the transfer from crypto to fiat isnt the point where any half competent authoritarian regime doesnt control crypto
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Its quite clear that you literally have no idea how Crypto works.
And reading through the court orders, its obvious the Government of Canada is scrambling as well.
On top of sending requests to custodial exchanges to freeze accounts associated with different wallets they were tracking (which makes sense), they also sent requests to self custodial wallets asking them to freeze the accounts. Anyone with even a small understanding of how crypto works knows this isn't possible.
To me this seems like the government just spouting off a bunch of stuff, then they realize they can't actually accomplish any of it so they claim they need more 'powers.' Because of the emotionally charged rhetoric flying around, people are inclined to give them more power without understanding any of it.
Just because you, as someone who has zero understanding on how crypto, custodial services, decentralized and centralized exchanges, atomic swaps, p2p trading, local trading, atms, cold storage, Bitcoin mixing, etc, etc works, doesn't mean that it isn't possibly completely obscure crypto transfers and covert it to fiat as needed. And trust me, there are many well motivated individuals within Canada & across the world who are willing to help do this.