#crypto #bnb
Canada’s Bill C-25 proposes a ban
on cryptocurrency, money orders,
and prepaid card donations
in the federal political system.
The move targets a fundraising method
that has seen almost no use
since crypto donations were allowed
back in 2019.
The Chief Electoral Officer,
who once supported tighter rules,
changed position in 2024.
They now recommend a full ban,
pointing to crypto’s pseudo-anonymity
and the challenge of verifying
who is actually donating.
The bill is a reintroduction
of the earlier Bill C-65,
which did not pass.
It requires illegal crypto donations
to be returned or handed over
within 30 days.
Strict penalties are included.
Corporations could face fines
of up to twice the donation amount
plus an additional $100,000.
The bill is currently
at first reading
in the House of Commons.
Canada’s Bill C-25 proposes a ban
on cryptocurrency, money orders,
and prepaid card donations
in the federal political system.
The move targets a fundraising method
that has seen almost no use
since crypto donations were allowed
back in 2019.
The Chief Electoral Officer,
who once supported tighter rules,
changed position in 2024.
They now recommend a full ban,
pointing to crypto’s pseudo-anonymity
and the challenge of verifying
who is actually donating.
The bill is a reintroduction
of the earlier Bill C-65,
which did not pass.
It requires illegal crypto donations
to be returned or handed over
within 30 days.
Strict penalties are included.
Corporations could face fines
of up to twice the donation amount
plus an additional $100,000.
The bill is currently
at first reading
in the House of Commons.