Canadians Moving to El Salvador After PM Invokes Emergency Powers

Source : coinquora.com

  • Canadians are eyeing to relocate to El Salvador after PM called for the use of emergency powers.
  • Canadian government froze accounts to cut protest funding.
  • El Salvador President is likely to welcome Canadians to bolster its crypto push.

Some Canadians are considering moving to Bitcoin-friendly El Salvador in fear that the Canadian government might threaten their freedom. In fact, some are even willing to convert their Canadian dollars to bitcoins.

This sentiment came after the Canadian Parliament approved Prime Minister Justin Trudeau’s decision to invoke the rarely-used emergency powers to quell pandemic-related protests running rampant in the capital Ottawa.

Earlier, protestors of the ‘Freedom Convoy’ reported that their personal and business bank accounts were frozen along with the seizing of their trucks. According to the Canadian Parliament, this countermeasure is to cut protest funding.

This has struck fear on some Canadian residents that they are considering relocating to El Salvador, a country that continues to make headlines as the ‘Bitcoin Haven’.

While Canada is busy enacting its Emergency Powers Act against the Freedom Convoy, El Salvador is already on track to reaching its goal to introduce a smart city that is fully based on the use of Bitcoin as a cryptocurrency.

Last year, El Salvador made Bitcoin its legal tender, even seeing a rise in its GDP after the historical crypto adoption. El Salvador President Nayib Bukele recently announced that the government would offer citizenship to foreign investors.

This move looks to boost the country’s economy by attracting unconventional capital, a nod to his statement that would speed up citizenship processes to investors that venture into El Salvador’s proposed crypto fund.

Where do afeared Canadians looking to move to the Bitcoin City come into the picture?

Canada is also one of the many nations where cryptocurrency has gained traction. And with the recent developments unfolding in the North American country, citizens are likely to go to the Central American nation.

One Twitter user even sought help from the El Salvador President:

The tweet got ample support, garnering over 129 retweets and 1k likes as of writing.

Bukele before slammed the Canadian government’s measure to oversee financial transactions that Canada fears might worsen the protests in the country.

He tweeted:

While Canadians eye moving to El Salvador for its crypto-friendly environment, the ongoing disarray in Canada would not help keep the citizens from leaving the country. Many expect President Bukele to welcome these foreigners as it would mean more investors that would add to the country’s crypto funding.

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