Cryptocurrency: Govts Label Self-Custody As Terrorists - FreeSpeech, WarOnPrivacy, Redress Protests

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https://www.coindesk.com/business/2022/02/22/canadas-osc-warns-crypto-exchanges-not-to-promote-self-custodial-wallets-report/

    Regulator in Canada Warns Crypto Exchanges Not to Promote Self-Custodial
                                Wallets: Report

The Ontario Securities Commission sent tweets from Coinbase CEO Brian Armstrong
and Kraken CEO Jesse Powell to the Canadian police.

   By Sam Reynolds

   The Ontario Securities Commission's building in Toronto (Paolo Costa
   Baldi/Wikimedia Commons)

   Tweets from the CEOs of Coinbase and Kraken that advocated self-custody of
   digital assets are being looked at the by the Royal Canadian Mounted
   Police for violating sanctions put in place to curb the trucker protests
   in the country, [144]according to a report from The Logic.

     * The Ontario Securities Commission (OSC) sent the tweets to the police
       because it believed that the crypto executives were offering advice on
       how to evade the sanctions on funds, according to the report.
     * Late last week, the Ontario Provincial Police and Royal Canadian
       Mounted Police [145]ordered all regulated financial institutions,
       including crypto exchanges, to cease trading and freeze the assets of
       “designated persons” involved in the trucker protests as well as
       34 associated crypto wallets.
     * Shortly after Deputy Prime Minister Chrystia Freeland announced the
       measure, both Powell and Armstrong tweeted in support of self-custody
       wallets.
     * [146]Self-custody means that the owner of the digital asset holds the
       private key for the wallet and thus has exclusive access. An
       appropriate metaphor would be keeping an asset in a safe with only the
       owner having the combination to the safe, instead of placing it in a
       bank.
     * In crypto’s earliest days, this was the preferred way to store
       digital assets. As digital assets became more mainstream, many
       investors preferred to hold their crypto on exchanges or with other
       custodians – many of which are regulated entities with licenses and
       insurance.
     * Representatives for Kraken and Coinbase have said that the exchanges
       intend to comply with the law. [147]Both companies, however, have
       taken a [148]public stance that they believe money shouldn't be
       censored and users should have protection from “unjust” seizure of
       assets.

   UPDATE (Feb. 22, 12:55 UTC): Updates third bullet to say Powell and
   Armstrong tweeted in support of self-custody wallets.

 144. https://leaderpost.com/the-logic/osc-flags-emergencies-act-tweets-by-kraken-coinbase-ceos-to-rcmp
 145. https://www.coindesk.com/policy/2022/02/16/canada-sanctions-34-crypto-wallets-tied-to-trucker-freedom-convoy/
 146. https://www.coindesk.com/learn/what-is-crypto-custody/
 147. https://twitter.com/jespow/status/1494458245259272192
https://cryptobriefing.com/kraken-ceo-warns-users-to-get-your-coins-out-of-centralized-exchanges/
 148. https://blog.coinbase.com/coinbases-philosophy-on-account-removal-and-content-moderation-c80d1aa452b7