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Canadian officials reports tweets of Coinbase and Kraken CEOs to legal enforcement agencies

The Ontario Securities Commission has deemed two tweets by Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powell to be worthy of further investigation. The two CEOs discussed the use of non-custodial cryptocurrency wallets.

The Ontario Securities Commission (OSC) has submitted tweets made by the CEOs of Coinbase and Kraken to legal enforcement agencies. Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powell both tweeted about the latest emergency act’s financial surveillance requirements.

The OSC’s decision to report those tweets was based on its judgement that the two people seemed to give guidance to protestors on how to bypass financing limits. Armstrong said that “self-custodial wallets” are important, but Powell said that people should move their money to non-custodial wallets.

Kraken CEO Jesse Powell tweeted that the company may be forced to freeze assets by court order. The exchange would be forced to comply. Citizens in such situations flock to decentralised networks to protect their assets.

Cryptocurrencies arose from a period when governments bailed out banks for their own crimes. A lot of people in the cryptocurrency world are worried about both government overreach and inflation.

 

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Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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