Canadian Lawmakers Vote to Advance Crypto Donation Ban

Canada has taken a significant step towards prohibiting cryptocurrency donations in politics, as a proposed ban gained cross-party support and advanced through Parliament with minimal opposition. The legislation, known as Bill C-25, 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 registered parties, candidates, and third-party advertisers. Recipients of illegal crypto donations would be required to return or remit the funds within 30 days. The bill's progress comes after Canada's Chief Electoral Officer recommended a prohibition on crypto donations due to concerns over pseudo-anonymity and identity verification. The move contrasts with the US, where crypto donations have been permitted since 2014, but aligns with a recent UK law banning crypto donations in politics.