Canadian Lawmakers Advance Bill to Prohibit Crypto Donations in Politics

A ban on crypto donations in Canadian politics has moved closer to becoming law, after a bill cleared a crucial vote in Parliament with cross-party support. The proposed legislation, known as Bill C-25, aims to prohibit political contributions made in cryptocurrency, citing concerns over the difficulty of tracing such transactions. The bill will now proceed to a committee for further review, where it may face amendments. If passed, the law would apply to all federal political entities, including parties, candidates, and third-party advertisers, and would require recipients to return any illegal crypto donations within 30 days. The legislation has garnered support from Conservative lawmakers, despite their party leader's previous stance as a crypto advocate. Other opposition parties have raised concerns over various aspects of the bill, but crypto has not been a central point of contention. The relatively smooth progress of the bill reflects the limited use of crypto in Canadian politics, with no major party having publicly accepted such donations since they were first allowed in 2019.