Amid the barrage of last week’s regulatory news, from rumors of Joe Biden’sComing executive ordersFrom digital assets to another round in the 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. This situation is complex, and there are many nuances. It doesn’t matter how complex the news is. What matters most is that the world audience can take away the simple and digestible message. Crypto offers an alternative to financial censorship.

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