Skip to content

Canada's Business and Tech Newsroom

  • Professional Subscription
  • Partnerships & Advertising
  • Licensing & Syndication
Log In Subscribe
Welcome,
  • My Account
  • Log Out
  • Business
  • Tech
  • National
  • The Big Read
  • Briefings
  • Commentary
Search
Log In Subscribe
Welcome,
  • My Account
  • Log Out
News

Feds announced crackdown on blockade financing without the measures

A day after Finance Minister Chrystia Freeland announced new emergency moves to try to cut off the money supply for people blocking border crossings and occupying streets in downtown Ottawa, the finance industry is still waiting to be told what rules it’s supposed to be following.

News

Feds announced crackdown on blockade financing without the measures

By David Reevely
Deputy Prime Minister and Finance Minister Chrystia Freeland speaks during a news conference in February 2022 in Ottawa. Photo: Adrian Wyld/The Canadian Press
Feb 15, 2022
A A
A Small A Medium A Large
Share

Share

A day after Finance Minister Chrystia Freeland announced new emergency moves to try to cut off the money supply for people blocking border crossings and occupying streets in downtown Ottawa, the finance industry is still waiting to be told what rules it’s supposed to be following.

What happened: On Monday, Freeland stood with Prime Minister Justin Trudeau as he announced the government would make unprecedented use of the Emergencies Act to increase police powers, forbid protests in certain places and order tow-truck drivers to drag blockade vehicles out of the way, then took over to talk about the money-related measures.

“As of today, all crowdfunding platforms and the payment service providers they use must register with [the money-laundering watchdog] FINTRAC and must report large and suspicious transactions to FINTRAC,” Freeland said.

The changes would “cover all forms of transactions including digital assets such as cryptocurrencies,” she said, though she didn’t say how.

Another order, “with immediate effect,” allowed financial institutions to review customers’ files for suspected links to blockades. “As of today, a bank or other financial-service provider will be able to immediately freeze or suspend an account without a court order.”

That included personal accounts, she said—so a financial institution could cut people off from their money on a suspicion, and be immunized from liability if its suspicion was unfounded.

Why it matters: When TD Bank froze two accounts linked to blockades on the weekend, it had to convince a judge first. Even the Ontario government had to go to court to freeze money raised for convoy protests through crowdfunding platforms.

The declaration of the emergency—in the form of an “order-in-council,” the technical term for a proclamation by the federal cabinet—wasn’t released until today. It’s needed to allow the specific new orders, but doesn’t include them.

When The Logic asked Freeland’s office Monday where the new rules could be found, spokesperson Adrienne Vaupshas referred the question to Justice Minister David Lametti’s office.

They would be released in the coming days, and would not take effect until they were published, Lametti’s spokesperson Chantalle Aubertin said.

Was what Freeland said Monday about the immediate efficacy of those orders true? Aubertin sent that question back to Vaupshas, who did not reply.

Uncertainty remains: Spokespeople for RBC, TD and Scotiabank all referred to the Canadian Bankers Association questions about what they were doing. (CIBC and BMO didn’t reply.)

“We haven’t seen the regs, haven’t seen the order-in-council,” said Mathieu Labrèche, a spokesperson for the industry group.

Michelle Rempel Garner, a Calgary Conservative MP with a private member’s bill that seeks to encourage crypto-assets in Canada, issued a statement calling the uncertainty about the new rules “unacceptable.”

#Chrystia Freeland #Emergencies Act #Justin Trudeau #protests

Sponsored Content

The real-world economic offshoots of sovereign AI

By Deborah Aarts
Illustration of a plane flying above a mailbox

Increasing healthcare access across Canada

By Deborah Aarts

What it takes to lead a frontier firm

By Deborah Aarts
Paid promotional content

Loading...

Thanks for sharing!

You have shared 5 articles this month and reached the maximum amount of shares available.

Close
This account has reached its share limit.

If you would like to purchase a sharing license please contact The Logic support at [email protected].

Close
Want to share this article?

Upgrade to all-access now

Close
Gift the full article!

You have gifted 0 article(s) this month and have 5 remaining.

Copy link and gift
Copy Link
Email to a friend
Send Email
Gift on Social Media

Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.

Photo: Adrian Wyld/The Canadian Press

Most Popular This Week

A man walks across a large greenhouse with large glass ceilings. He is walking on a white path through rows of green lettuce growing on the ground.
News

Canadian businesses were bracing for a wave of retirees. Then along came AI

By Anita Balakrishnan
An image of a man wearing a dark suit jacket and tie. He is wearing a mic and looking slightly away from the camera.
News

Brookfield and Cohere execs among high-profile guests at CVCA summit

By Catherine McIntyre
In this photo illustration the Moneris logo is seen displayed on a smartphone.
News

U.S. private equity is buying Canada’s biggest payments processor. Some people are worried about sovereignty

By Claire Brownell
A silhouette of the Empire State Building against a blue sky.
News

Takeovers are shifting control of Canadian firms abroad, survey shows

By Catherine McIntyre

In-depth, agenda-setting reporting

Great journalism delivered straight to your inbox.

Commentary

Carmichael: Canada’s biggest companies aren’t wired for growth. That’s a problem for us all

By Kevin Carmichael

Briefing

Stellantis considering selling Ontario factory, union says

By Anita Balakrishnan   |   Aug 14, 2026

Intellectual property from failed New Brunswick nuclear developer sold to Ontario’s Nuclea Energy

By David Reevely   |   Aug 14, 2026

Drone maker Volatus reports revenue dip as it struggles with its supply chains

By David Reevely   |   Aug 14, 2026

Best business newsletter in Canada

Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.

Exclusive events

See the bigger picture with reporters and industry experts in subscriber-exclusive events.

Membership in The Logic Council

Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.

Recent Popular Stories

News

U.S. private equity is buying Canada’s biggest payments processor. Some people are worried about sovereignty

By Claire Brownell   |   Aug 12, 2026
In this photo illustration the Moneris logo is seen displayed on a smartphone.
News

Canada’s oil majors eye the next production boom

By Meghan Potkins   |   Aug 7, 2026
Storage tanks in the primary extraction plant at the Suncor Fort Hills facility in Fort McMurray Alta, on Monday September 10, 2018.
Analysis

These AI startups are making millions with tiny teams

By Catherine McIntyre   |   Aug 5, 2026
Shivam Mahajan and Zaaheda Islam pose in front of their company offices.
News

Brookfield and Cohere execs among high-profile guests at CVCA summit

By Catherine McIntyre   |   Aug 13, 2026
An image of a man wearing a dark suit jacket and tie. He is wearing a mic and looking slightly away from the camera.
News

Ottawa backs ArcelorMittal’s Quebec expansion with $125M

By Laura Osman   |   Aug 6, 2026
Four people stand in orange safety jackets and helmets stand in a factory, including Prime Minister Mark Carney, second right, speaking into microphone. They are in a plant with yellow scaffolding and a Canadian flag in the background.
Commentary

Carmichael: The rise of AI-powered solopreneurs could upend how the economy works

By Kevin Carmichael   |   Aug 8, 2026
Shopify president Harley Finkelstein smiling as he sits on stage at an event, his arms crossed. He holds a microphone in his hand and wears another microphone on a headset.

Canada's most influential executives and policymakers are reading The Logic

  • CPP Investments
  • Sun Life Financial
  • C100
  • Amazon
  • Telus
  • Mastercard
  • bdc
  • Shopify
  • Rogers
  • RBC
  • General Motors
  • MaRS
  • Government of Canada
  • Uber
  • Loblaw Companies Limited
logic-logo

Canada's Business and Tech Newsroom

100% human-crafted journalism

Newsroom

  • News Tips
  • AI Policy
  • Editorial Disclosures
  • Story Pitches

Company

  • About Us
  • Terms of Service
  • Privacy Statement
  • Corporate Information

Contact

  • Contact Us
  • Advertise
  • FAQs
  • Work at The Logic

© 2026 The Logic Inc. All Rights Reserved.

Trusted by leaders

Error

Account creation failed.

Please email us at [email protected].

Create Account

[wppb-register form_name=”cozmo-registration-form-for-modal”]

I do have an account
Login
or

[wppb-login]

I don’t have an account