Canada Moves To Ban Crypto Donations For Political Campaigns

Canada's Bill C-25 would prohibit cryptocurrency, money order, and prepaid card donations across the entire federal political system, closing a fundraising channel that has seen virtually no use since crypto was first permitted in 2019.

The Chief Electoral Officer shifted from favoring tighter regulation to recommending an outright ban, citing crypto's pseudo-anonymity and difficulty verifying contributor identities.

The bill sets 30-day deadlines to return illegal crypto contributions and imposes penalties up to twice the contribution's value plus $100,000 for corporations.

The move follows the U.K.'s recent moratorium on crypto political donations over foreign funding concerns.