Canadian Lawmakers Move Forward with Ban on Crypto Donations

A proposed ban on cryptocurrency donations in Canadian politics has taken a significant step towards becoming law, garnering cross-party support in the House of Commons. The bill, known as the Strong and Free Elections Act, aims to restrict difficult-to-trace funding methods, including crypto, money orders, and prepaid payment products. If passed, the ban would apply to all federal entities, including parties, candidates, and third-party advertisers. Recipients of illegal crypto donations would be required to return or remit them within 30 days. The bill's progression comes despite some Conservative lawmakers expressing concerns about the restrictions, although the issue did not become a major point of contention. The limited resistance may be attributed to the relatively low usage of crypto in Canadian politics, with no major party having publicly accepted crypto donations since they were permitted in 2019.