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Canada's comprehensive ban on federal elections accepting cryptocurrency political donations has passed the second reading.

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PANews
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9 hours ago
AI summarizes in 5 seconds.

PANews April 27 news, according to CoinDesk, Canada's "Strength and Freedom Election Act" (Bill C-25) has received cross-party support in the second reading vote in the House of Commons, passing and being sent to committee for review. The bill aims to prohibit the acceptance of cryptocurrency political donations at the federal level. The bill treats cryptocurrencies along with money orders and prepaid payment instruments as forms of funds that are difficult to trace, applicable to registered parties, riding associations, candidates, party leaders, and nominated candidates as well as third-party advertising entities. Recipients of illegal cryptocurrency donations must return or remit them to the federal treasury within 30 days. The report points out that Canada has technically allowed cryptocurrency political donations since 2019, but mainstream parties rarely accept them publicly; in contrast, the United States still permits such donations, while the United Kingdom has legally prohibited them.

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