Canada Moves Closer to Banning Crypto Donations in Politics

Canada is one step closer to implementing a ban on cryptocurrency donations in politics after a key bill passed a crucial vote with cross-party support. The proposed law, known as Bill C-25, aims to restrict difficult-to-trace funding methods, including crypto, money orders, and prepaid payment products. If implemented, the ban would apply to all federal election entities, including parties, candidates, and advocacy groups. The legislation would require recipients to return or remit any illegal crypto contributions within 30 days. While some Conservative lawmakers raised questions about the proposed restrictions, crypto did not become a central point of contention, and the party ultimately supported sending the bill to committee for further review. The limited opposition may be due in part to the fact that crypto donations have seen little use in Canadian politics, with no major party publicly accepting them and no disclosed contributions in recent elections. The move is in contrast to the US, which has allowed crypto donations since 2014, and follows a similar ban implemented in the UK earlier this year.