Kraken CEO Jesse Powell: Keep your coins with you

Kraken CEO Jesse Powell called for funds to be withdrawn from centralized exchanges afterhow the Canadian police demanded to freeze the wallets of the participants in the Freedom Escort.

Jesse Powell stressed thatcentralized and registered sites have no choice but to comply with the requirements of law enforcement and regulators. Therefore, we should expect that the freezing of wallets will continue. He himself does not support this practice, but he cannot do anything about it either.

“Courts are for the plebeians.In Canada, this is all right - if people do not agree with the authorities, you simply confiscate their funds, revoke their licenses and exclude them from the financial system. There is no need to discuss law, politics, or rights if you have a monopoly on violence. If such a demand comes to us, then we will obey it, we will be forced. If you are worried about this, then do not store funds in any centralized service. We cannot protect you. Keep your coins to yourself and only trade P2P,” wrote Powell.

100% yes it has/will happen and 100% yes, we willbe forced to comply. If you're worried about it, don't keep your funds with any centralized/regulated custodian. We cannot protect you. Get your coins/cash out and only trade p2p.

— Jesse Powell (@jespow) February 18, 2022

Recall that law enforcement agencies in Canadademanded that centralized exchanges block transactions coming to wallets associated with the Freedom Convoy movement. More than 30 such addresses were identified. At the same time, the police did not receive a judicial warrant for this action - a state of emergency was introduced in Canada, giving the police the right to act without litigation.

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