Bitcoin’s censorship resistance capacity enters the spotlight, Feb. 14–21 -Breaking
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Amid the barrage of last week’s regulatory news, from rumors of Joe Biden’sComing executive orderson digital assets to another round Russian government’s crypto tug of war, the storyline that was arguably the most consequential for the mainstream narrative on the social effects of crypto has been the one around the Canadian government’s standoff with the Freedom Convoy. The government’s invocation of emergency powers to put down a protest movement — combined with the movement’s financial infrastructure being one of the main attack vectors — has led many observers to appreciate with renewed vigor Bitcoin’s capacity to resist state financial censorship.
If a government as “civilized” as Canada’s can arbitrarily cut off a group it doesn’t like from the financial system, then any state can potentially do the same to any group, the argument goes. There is more to the situation than that. The important thing is to present a clear and simple idea that can be easily understood by the general public, so they don’t get shocked. The main message seems to be: While financial censorship can seem scary, crypto has a way around.
Canada: Canada is not so polite anymore
BlockFi $100 Million for the chance to comply
Bills keep coming
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