Canadian Lawmakers Advance Proposal to Ban Crypto Donations in Politics

A Canadian bill that aims to outlaw cryptocurrency donations in politics has taken a major step forward, gaining cross-party support and advancing to the committee stage with minimal opposition. The proposed legislation, known as Bill C-25 or the Strong and Free Elections Act, would categorize crypto donations as difficult to trace and prohibit them alongside other opaque funding methods. The ban would apply to all federal political entities, including parties, candidates, and third-party advertisers. Recipients of illegal crypto donations would be required to return or remit them within 30 days. Although some Conservative lawmakers expressed concerns about the proposed restrictions, they ultimately supported the bill's progression to the committee stage. The limited resistance to the crypto ban reflects the fact that cryptocurrency donations have been rarely used in Canadian politics, despite being technically allowed since 2019. The move is in contrast to the US, where crypto donations have been permitted since 2014, and differs from the UK, which recently passed a law banning crypto donations due to concerns about hiding the origins of foreign money.