Canada Introduces Total Crypto Political Donation Ban in Bill C-25
Key Takeaways
- Bill C-25 would ban cryptocurrency donations across federal political campaigns.
- The ban also covers money orders and prepaid card donations.
- The measure cites foreign interference fears to protect electoral integrity.
Canada Bans Crypto Donations
Canada introduced Bill C-25 proposing a total ban on cryptocurrency donations.
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The bill also bans money orders and prepaid cards.
Crypto donations have been permitted since 2019 as non-monetary contributions.
The Chief Electoral Officer shifted to recommending an outright ban in 2024.
Legislation and Enforcement
Bill C-25 requires prohibited donations to be returned within 30 days.
Violations bring fines of up to twice the donation amount.
No major federal party has ever publicly accepted cryptocurrency donations.
International Context
Canada's move came a day after the UK announced a moratorium on crypto donations.
“Summary - Canada’s federal government said it has submitted the Fair Elections Act (Bill C-25) to the House of Commons, which would impose a blanket ban on political donations using crypto assets (cryptocurrencies)”
Analysts described Canada's bill as addressing a theoretical vulnerability.
Crypto political donations have seen little to no real-world use.
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