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The Canadian government proceeded to seize the bank accounts of the freedom protesters. The government further identified many cryptocurrency addresses and tried to blacklist them.
But, it is good news that the authoritarian government of Canada failed to blacklist or block the cryptocurrency addresses. The security design of the technology of cryptocurrency didn't allow them to access the decentralized computing infrastructure.
In the coming days, we may witness a contest between the global governmental tyrannies versus the strength of cryptographic data privacy of cryptocurrencies.
Governments are always after snatching financial freedom from the citizens.
To stop the protesters' crowdfunding endeavors, the Canadian police quickly sent letters to the banks and the cryptocurrency exchanges to "cease facilitating any transactions" with thirty plus cryptocurrency addresses.
Authoritarian governments or any other agencies may forcefully access centralized cryptocurrency exchanges, including all private data, clients' information and cryptocurrency addresses, crypto assets, etc.
If we have to make use of the full privacy and decentralized feature of cryptocurrencies, the users must not keep funds in the wallets of centralized cryptocurrency exchanges.
Cryptocurrency in personal custody wallets turns out to be the only way to avoid government control and freezing of crypto assets.
Cryptocurrencies may provide financial freedom if and only if it is correctly used.
The Canadian case of governmental authoritarianism towards cryptocurrency wallets raised a question for centralized cryptocurrency exchanges. People may have to think many times before keeping cryptocurrency assets in a wallet under a centralized exchange.
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