Canada moves closer to banning crypto donations in politics

Canada advances Bill C-25 to ban crypto donations in federal politics, citing transparency and donor traceability. The bill has broad support and now moves to committee for further review.

Canada is progressing toward banning cryptocurrency donations in federal political campaigns as Bill C-25, the Strong and Free Elections Act, passed its second reading in the House of Commons. The bill aims to prohibit crypto contributions to federal parties, candidates, and third-party advertisers by grouping them with other hard-to-trace funding methods like wire transfers and prepaid cards. Under the proposed legislation, any illegal crypto donations must be returned or sent to the Receiver General within 30 days. The bill has received broad support from multiple parties, including the Conservatives, and has encountered minimal opposition, reflecting the limited use of crypto in Canadian campaign finance so far. The measure now moves to committee for further review and potential amendments. Lawmakers emphasize transparency and the ability to verify donor identities as key reasons for the proposed ban. Notably, no major federal party has accepted crypto donations to date, and none were reported in recent elections.