Canadian Lawmakers Vote to Advance Crypto Donation Ban

A ban on cryptocurrency donations in Canadian politics has taken a step closer to becoming law, after lawmakers voted to advance the proposal with broad cross-party support. The proposed legislation, known as Bill C-25, would prohibit the use of cryptocurrencies, money orders, and prepaid payment products for political donations, citing concerns over the difficulty of tracing the origin of these funds. If passed, the ban would apply to all federal political entities, including parties, candidates, and third-party advertisers. Recipients of illegal donations would be required to return or remit the funds within 30 days. The bill's progress comes despite initial concerns from some Conservative lawmakers, who had questioned the need for the ban. However, the issue did not become a major point of contention, and the bill will now proceed to a committee for further review. The proposed ban reflects a shift in approach by Canadian authorities, who had previously allowed cryptocurrency donations since 2019, but have since raised concerns over their potential use for illicit activities.