Canada’s federal government introduced Bill C-25, the Strong and Free Elections Act, to ban cryptocurrency donations to political campaigns.
The legislation targets BTC and other cryptoassets, grouping them with untraceable funding methods like money orders and prepaid cards.
The move follows warnings from Canada's Chief Electoral Officer about risks to electoral integrity. While crypto donations have been legally permitted since 2019, no major party has reported receiving any.
Bill C-25 marks the second attempt after the failed Bill C-65. Violators face penalties up to twice the donation value, plus $100,000 for corporate entities.
The U.K. recently imposed a similar ban amid fears of foreign influence through opaque digital assets.