Canadian Lawmakers Advance Proposal to Ban Crypto Donations in Politics

A ban on cryptocurrency donations in Canadian politics has moved closer to becoming law after a proposed bill passed a crucial vote with cross-party support. The bill, known as the Strong and Free Elections Act, aims to prohibit political contributions made in crypto, citing concerns over the difficulty of tracing such transactions. If enacted, 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 the funds within 30 days. The proposed legislation has been sent to committee for further review, with Conservative lawmakers raising questions about the ban but ultimately supporting its progression. The issue of crypto donations has garnered little attention in Canadian politics, with no major party having publicly accepted such donations and none being disclosed in recent elections. The move comes as other countries, such as the UK, have also introduced similar bans, while the US has permitted crypto donations since 2014.