Canadian Lawmakers Advance Proposal to Ban Crypto Donations in Politics

A ban on cryptocurrency donations in Canadian politics has moved closer to becoming law, following a key vote in the House of Commons. The proposed legislation, known as Bill C-25, aims to restrict the use of cryptocurrencies, money orders, and prepaid payment products for political contributions, citing concerns over their traceability. The ban would apply to all federal parties, candidates, and third-party advertisers, with recipients required to return or remit any illegal contributions within 30 days. The bill's progress comes despite initial questions from Conservative lawmakers, who ultimately supported the move to send the bill to committee for further review. The proposed ban reflects concerns over the potential for cryptocurrencies to be used for untraceable donations, and follows recommendations from Canada's Chief Electoral Officer to tighten regulations on crypto donations. The move is in contrast to the US, where crypto donations have been permitted since 2014, but in line with a recent law passed in the UK banning crypto donations in politics.