Kraken CEO Admits Company Might Freeze Assets Without Judicial Consent

Kraken CEO, Jesse Powell, says the exchange will comply with regulators and freeze clients’ funds without judicial consent should the Canadian authorities require so. In a tweet Powell wrote Kraken will be forced to comply with Canadian regulators, adding that users should not hodl assets on the exchange if they are afraid of these sanctions.

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“100% yes it has/will happen and 100% yes, we will be forced to comply. If you are worried about it, do not keep your funds with any centralized/regulated custodian. We cannot protect you. Get your coins/cash out and only trade p2p,” Powell said.

Canada Will Track Crypto Transactions

Powell’s comments come after Canada sanctioned over 30 bitcoin (EXANTE: Bitcoin) addresses tied to “Freedom Convoy” as the protests are now considered as illegal under the Emergencies Act invoked by Canadian Prime Minister Justin Trudeau.

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