Canada’s crypto donation ban clears key vote with support from Conservatives

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Canada’s crypto donation ban clears key vote with support from Conservatives Bill C-25, the Strong and Free Elections Act, cleared second reading Friday and heads to committee as Conservative lawmakers raise but don’t challenge the proposed ban on bitcoin contributions What to know: - Canada’s Bill C-25, which would ban crypto donations to federal political campaigns by classifying them alongside other hard-to-trace funding methods, passed a second reading in the House of Commons and moved to committee review. - The proposal covers all major participants in federal elections, including parties, candidates and third-party advertisers, requiring any illegal crypto contributions to be returned or sent to the Receiver General within 30 days. - The measure has drawn little opposition in Parliament, reflecting the minimal role crypto has played in Canadian campaign finance, even as the U.S. continues to allow such donations while the U.K. has already banned them. Canada’s proposed ban on crypto political donations moved a step closer to becoming law on Friday, advancing through Parliament with cross-party support and little opposition. Bill C-25, the Strong and Free Elections Act, passed second reading in the House of Commons and was referred to committee for further review. In Canada’s system, that vote signals lawmakers broadly agree with a bill’s core principles before it faces detailed scrutiny and possible amendments. The legislation would prohibit political contributions made in crypto, alongside money orders and prepaid payment products, grouping them as funding methods that are difficult to trace. The ban would apply across the federal system — registered parties, electoral district associations, candidates, leadership and nomination contestants, and third parties that run election advertising. Recipients would have 30 days to return illegal crypto contributions or remit them to the Receiver General, Canada's equivalent of the U.S. Treasury. The bill’s lead defender on the floor was Kevin Lamoureux, the Liberal parliamentary secretary to the government’s House leader, a junior official who helps manage the ruling party’s legislative agenda and acts as a floor spokesperson during debate. His opening speech walked through AI deepfakes, foreign interference, and administrative penalties. Crypto did not come up, according to an official transcript. Asked by a Liberal colleague to pick from three priorities — foreign interference in nominations, political financing transparency or artificial intelligence — Lamoureux picked AI. Several Conservative Members of Parliament — the party is led by Pierre Poilievre, who marketed himself as crypto-friendly during the last election — raised questions about political financing rules and how new restrictions would be applied. But the issue never became a central point of contention. Conservatives backed sending the bill to committee, while other opposition parties raised concerns about different elements of the legislation, but did not center their arguments on crypto. The limited resistance also reflects how little crypto has been used in Canadian politics. Canada has technically allowed crypto donations since 2019, when Elections Canada classified them as non-cash, in-kind contributions similar to property. But no major federal party has publicly accepted crypto, and no contributions have been disclosed in recent elections. C-25 is itself a re-run. Its predecessor, Bill C-65, contained identical crypto language and died when Parliament was prorogued — suspended without dissolving — in January 2025. Canada's Chief Electoral Officer recommended tighter regulation of crypto donations in 2022, then, in November 2024, shifted to recommending an outright prohibition, citing pseudo-anonymity and the difficulty of verifying contributors' identities. The U.S. is moving in the opposite direction. The Federal Election Commission has permitted crypto donations to American campaigns since 2014. Earlier this year, the U.K. passed a law banning crypto donations, citing concerns that digital assets could be used to hide the origins of foreign money in British politics. More For You The European Union noted that Russia has become increasingly reliant on cryptocurrency to circumvent sanctions. What to know: - The EU unveiled its largest Russia sanctions package in two years, imposing a total ban on the country's crypto providers and platforms and blocking the central bank’s digital ruble and the RUBx stablecoin. - The measures target 20 Russian banks, four third-country financial institutions linked to Russia’s SPFS messaging network, and...

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