Canadian Lawmakers Advance Bill to Prohibit Cryptocurrency Donations in Politics

Canada has taken a significant step towards banning cryptocurrency donations in politics, as a new bill gained cross-party support and moved forward for further review. The proposed legislation, known as Bill C-25, aims to prohibit crypto contributions, along with other difficult-to-trace funding methods, in order to increase transparency in the country's federal system. The ban would apply to all registered parties, candidates, and third parties involved in election advertising, with recipients required to return any illegal crypto donations within 30 days. Despite initial questions from Conservative lawmakers, the issue of crypto donations did not become a major point of contention, and the bill was sent to committee for further review. The development reflects the relatively limited use of crypto in Canadian politics, with no major federal party having publicly accepted crypto donations to date.