Canadian Lawmakers Advance Bill to Prohibit Cryptocurrency Donations in Politics

A ban on cryptocurrency donations in Canadian politics is one step closer to becoming law, following a parliamentary vote that saw broad support for the proposed legislation. The bill, known as the Strong and Free Elections Act, aims to prohibit the use of crypto, money orders, and prepaid payment products for political contributions, citing concerns over the difficulty of tracing these funding methods. 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 bill's progress comes despite initial questions from Conservative lawmakers, who ultimately chose not to challenge the proposed ban. The lack of opposition reflects the limited use of crypto in Canadian politics, with no major party having publicly accepted crypto donations since they were first permitted in 2019. The move is in contrast to the US, where crypto donations have been allowed since 2014, and follows a similar ban implemented in the UK earlier this year.