Canadian Lawmakers Move to Ban Cryptocurrency Donations in Politics

Canada has taken a significant step towards banning cryptocurrency donations in politics, as a proposed law gained cross-party support and advanced through Parliament with minimal opposition. The legislation, known as Bill C-25, aims to prohibit crypto donations, along with other difficult-to-trace funding methods, and will apply to all federal political entities. If passed, recipients of illegal crypto donations will have 30 days to return or remit them to the authorities. The bill's progression comes after Canada's Chief Electoral Officer recommended a ban on crypto donations due to concerns over pseudo-anonymity and the difficulty of verifying contributors' identities. This move is in contrast to the US, which has allowed crypto donations since 2014, and follows the UK's recent ban on crypto donations in politics.