Canada intends to comprehensively ban cryptocurrency political donations

Techub News reports, according to CoinDesk, the Canadian government proposed the "Strong and Free Elections Act" (Bill C-25) on March 26, aiming to comprehensively ban the use of crypto assets like Bitcoin for political donations, categorizing them alongside money orders and prepaid payment instruments as "difficult-to-trace" forms of funds. This ban applies to registered political parties, candidates, campaign teams, and third-party campaign advertisers, meaning crypto assets will be entirely excluded from the federal election financing system. Canada had permitted crypto donations since 2019, but they were scarcely used in the 2021 and 2025 federal elections. Regulators believe the "pseudo-anonymity" of crypto assets and the difficulty in tracing funds pose potential risks to election transparency. This move follows the UK's recent temporary ban on crypto political donations, indicating a clear trend of tightening regulations. According to the bill, improperly received crypto donations must be returned or disposed of and surrendered to the national treasury within 30 days, with maximum penalties reaching twice the违规 amount plus an additional fine of up to 100,000 Canadian dollars. The bill has currently entered its first reading in parliament.