Canadian Lawmakers Advance Bill to Prohibit Cryptocurrency Donations in Politics

A ban on cryptocurrency donations in Canadian politics has moved closer to becoming law after gaining cross-party support in the House of Commons. The proposed legislation, known as Bill C-25 or the Strong and Free Elections Act, aims to prohibit donations made in cryptocurrencies due to concerns over their traceability. The bill will now proceed to a committee for further review and possible amendments. If passed, the law would require recipients of illegal cryptocurrency donations to return or remit them within 30 days. The proposed ban is part of a broader effort to regulate political financing and prevent foreign interference in Canadian elections. Although some Conservative lawmakers raised questions about the restrictions, the issue of cryptocurrency donations did not become a major point of contention. This development comes as other countries, such as the UK, have also implemented similar bans, while the US has permitted cryptocurrency donations since 2014.