Canada advances bill to ban crypto political donations

Lawmakers look to push election reform that would block crypto campaign donations, even as Canada expands oversight of stablecoins and digital asset markets.

Canada is moving closer to banning political donations made in cryptocurrency, as lawmakers in Ottawa tighten rules around how money flows into elections.

That's after a proposed law — Bill C-25, the Strong and Free Elections Act — passed a second reading in the House of Commons on Friday. The vote signals that lawmakers support the bill in principle and will now study it in detail at committee, where amendments can still be made.

The legislation would prohibit political parties and candidates from accepting cryptocurrency donations, closing what regulators see as a gap in campaign finance rules.

Read more