Canadian Lawmakers Move Closer to Banning Crypto Donations in Politics

A ban on crypto donations in Canadian politics has taken a significant step forward after a key vote in the House of Commons. The proposed legislation, known as Bill C-25, or the Strong and Free Elections Act, has received cross-party support and will now be subject to further review by a committee. The bill aims to prohibit political contributions made in cryptocurrency, citing concerns over the difficulty of tracing the origin of such funds. If passed, the ban would apply to all federal political entities, including registered parties, electoral district associations, and candidates. Recipients of illegal crypto donations would be required to return or remit the funds within 30 days. The legislation has garnered support from Conservative lawmakers, despite their party leader's previous stance as crypto-friendly. The limited opposition to the bill reflects the relatively rare use of crypto donations in Canadian politics, with no major federal party having publicly accepted such donations since they were first allowed in 2019.