Canadian Lawmakers Advance Proposal to Ban Cryptocurrency Donations in Politics

A proposed ban on cryptocurrency donations in Canadian politics has moved closer to becoming law, garnering cross-party support and minimal opposition in the House of Commons. The legislation, known as Bill C-25, aims to prohibit crypto donations, money orders, and prepaid payment products, deeming them difficult to track. The ban would apply to all federal entities, including registered parties, candidates, and third-party advertisers. Recipients of such donations would be required to return them within 30 days or remit them to the Receiver General. The bill's progression comes after Canada's Chief Electoral Officer recommended a prohibition on crypto donations, citing concerns over pseudo-anonymity and the challenge of verifying contributor identities. The proposal has garnered support from Conservative lawmakers, despite their party leader's crypto-friendly stance. The limited resistance to the ban reflects the minimal use of cryptocurrency in Canadian politics, with no major party having publicly accepted crypto donations since their legalization in 2019.