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# Not American? Your Bitcoin Is at Immediate Risk on an American-Owned Exchange
- URL: https://www.prakashchand.com/not-american-your-bitcoin-is-at-immediate-risk-on-an-american-owned-exchange/
- Published: 2026-09-11T15:58:49.000Z
- Updated: 2026-09-11T15:58:49.000Z
- Author: Prakash Chand

If you're Canadian and holding Bitcoin or other crypto assets on **Coinbase, Kraken, Robinhood, Bitbuy or Coinsquare, you need to move your Bitcoin and crypto assets immediately.**

My position is simple:

### **As a Canadian, I would not keep my long-term Bitcoin on an American-owned exchange.**

Not because I think these companies are bad.

Because I don't want another country's government having unnecessary potential leverage over my family's Bitcoin.

And Donald Trump has made that risk impossible for Canadians to ignore.

## Trump Has Changed the Way Canadians Need to Think

Look at how quickly the relationship between Canada and the United States has changed.

Trump has repeatedly demonstrated that he's willing to use America's enormous economic power as leverage against Canada.

Tariffs. Trade restrictions. Economic pressure.

So here's the question every Canadian Bitcoin holder should be asking:

### **Why would I voluntarily keep my Bitcoin inside an American-controlled ecosystem if I don't have to?**

The United States already has powerful mechanisms capable of freezing assets when applicable sanctions require it. OFAC says blocked property cannot be transferred or withdrawn without authorization.

I'm not waiting for a crisis to start thinking about where my Bitcoin is held.

## I Wouldn't Keep My Bitcoin on These Platforms

I'm going to make this simple.

**Coinbase. Kraken. Robinhood. Bitbuy. Coinsquare.**

These aren't where I would keep my family's long-term Bitcoin.

### **I would move it.**

I'm Canadian. I'm buying Bitcoin as a long-term asset for myself and my family.

I don't want unnecessary American corporate, political or jurisdictional exposure sitting between me and my Bitcoin.

And I have absolutely no idea what the political relationship between Canada and the United States will look like 5, 10 or 20 years from now.

Neither do you.

## Bitbuy and Coinsquare Should Be a Wake-Up Call

For years, Bitbuy and Coinsquare were two of the biggest Canadian names in crypto.

Then American company Robinhood bought their parent company, WonderFi.

Robinhood completed the acquisition in June 2026 and is transitioning eligible Bitbuy and Coinsquare customers and supported assets to Robinhood Canada.

Think about that.

**You didn't choose Robinhood.**

The ownership changed around you.

That's not an accusation against Robinhood. It's a lesson about control.

Companies get bought.

Governments change.

Rules change.

Relationships between countries change.

### **Your Bitcoin custody shouldn't depend on all of them staying friendly forever.**

## Imagine Seeing Your Bitcoin — But Not Being Able to Move It

This is what people don't think about.

You open **Coinbase, Kraken, Robinhood, Bitbuy or Coinsquare.**

Your Bitcoin is sitting right there.

You can see it.

But imagine an applicable government order or sanctions restriction suddenly prevents the institution holding it from allowing withdrawals.

**You can't send it.**

**You can't withdraw it.**

**You can't move it.**

Your password doesn't override a government order.

That's the risk I'm talking about.

## This Is Bigger Than Trump

Trump makes this conversation urgent.

But this isn't really about one president.

Trump won't be president forever.

Governments change. Sanctions change. Regulations change. Companies change hands.

**Bitcoin doesn't.**

If I'm planning to own Bitcoin for decades and eventually pass it to my children, I don't want my custody strategy dependent on predicting decades of American politics.

## Buying Bitcoin Is Only Step One

I'm not saying everyone should put their Bitcoin on a Ledger in their bedroom either.

Self-custody has its own risks.

For anyone building serious Bitcoin wealth, you need a proper custody strategy: understand **who holds the keys, where your Bitcoin is actually held, what jurisdiction applies, how recovery works and what happens to your Bitcoin if you die.**

Your spouse and children need a secure path to those assets too.

## My Message to Canadians Is Simple

If your Bitcoin or crypto assets are sitting on **Coinbase, Kraken, Robinhood, Bitbuy or Coinsquare**, I believe you should move them and rethink your long-term custody strategy.

### **Don't wait until there's a crisis to start asking who really controls your Bitcoin.**

Buying Bitcoin is step one.

**Protecting your control over it is step two.**

**Think long. Act early.**