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Decentralized Democracy

House Hansard - 35

44th Parl. 1st Sess.
February 20, 2022 07:00AM
Context: House Hansard - 35 - Feb/20/22
Mrs. Jenna Sudds
  • Feb/20/22 1:27:29 p.m.
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Madam Speaker, on the financial measures that are being put in place, I believe we have broadened the scope of Canada's anti-money laundering and terrorist financing rules so they cover crowdfunding platforms and their payment service providers, including digital assets such as cryptocurrencies. The government is issuing this order, effective last week, so Canadian financial institutions are able to temporarily seize those funds as they are suspected to contribute to the occupations.
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Context: House Hansard - 35 - Feb/20/22
Ms. Jenny Kwan (Vancouver East, NDP)
  • Feb/20/22 6:54:22 p.m.
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Madam Speaker, it was made clear early on during the occupation that crowdfunding and cryptocurrency were being used to fund illegal activities. This demonstrated a concerning gap in the reporting requirements. Why did the government not take immediate action to ensure that the proceeds of crime and terrorist financing regulations were updated, so that these companies were not exempt from reporting suspicious transactions to FINTRAC?
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Context: House Hansard - 35 - Feb/20/22
Mr. Philip Lawrence
Mr. Speaker, I thank the hon. member for her comment. I have enjoyed working with her on Bill S-216 and, if I am not being too bold, walking with her to the House earlier. I would say that this is an area of study and it is an area where we need to look at these new technologies. Unfortunately, the government has been behind on many things, including reviewing how cryptocurrency works in this context. We need to look at crowdfunding. We need to review all of these topics.
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Context: House Hansard - 35 - Feb/20/22
Ms. Bonita Zarrillo
  • Feb/20/22 10:36:33 p.m.
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Madam Speaker, I will just remind the member that it was the NDP that first identified the fact that online platforms and crowdfunding platforms were being used outside of the country to fuel and to pay for these illegal occupations.
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