After the Canadian government targeted crypto exchanges over protests, Kraken CEO Jesse Powell said users should consider removing their assets from exchanges.
The Canadian government had recently activated the Emergency Law due to the ongoing protests in Canada, and in this context, it ordered crypto exchanges to block 34 crypto addresses that were carrying out donation activities on behalf of the protesters. After the event, Kraken CEO Jesse Powell said in a post on his Twitter account that users should consider withdrawing their funds from crypto exchanges, including Kraken, of which he is the CEO.
Powell responded to a comment on his tweet criticizing the Canadian government’s stance on the events. One user told Powell that Kraken will also at some point get to a point where user accounts will be frozen and they will have to comply. Powell also confirmed the inevitability of such an event and said:
“100% yes, it did/will happen and 100% yes, we will have to comply. If you’re worried, don’t keep your money in a centralized/regulated custody provider. We cannot protect you. Withdraw your assets and only trade peer-to-peer.”
100% yes it has/will happen and 100% yes, we will be 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
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