Odaily Planet Daily report: On March 26, the Canadian government introduced the Strong and Free Elections Act (Bill C-25), proposing to prohibit the use of Bitcoin and other cryptocurrency assets for political campaign donations, and classifying cryptocurrency assets alongside drafts and prepaid payment tools as “hard-to-trace” sources of funds. This ban applies to the entire political system, including registered political parties, candidates, campaign teams, and third-party campaign advertisers. This move follows the UK’s recent announcement suspending cryptocurrency political donations, citing concerns over foreign funds entering the political system via crypto assets. If passed, illegally received cryptocurrency donations must be returned or disposed of within 30 days, with penalties of up to twice the amount of the violation and an additional fine of up to $100,000. The bill is currently in its first reading stage in Parliament.
Notably, Canada permitted cryptocurrency donations since 2019, but their actual use was minimal, with no disclosed contributions reported in the 2021 or 2025 elections. Regulators long expressed concerns that the “pseudonymous” nature of crypto assets could undermine election transparency, ultimately leading to a complete ban. (CoinDesk)