Canada Bans Cryptocurrency Donations for Political Election Financing
Canada Bans Cryptocurrency Donations for Political Election Financing
The Canadian government has formally moved to prohibit political donations made in cryptocurrency. This amendment, part of Bill C-25, aims to close potential avenues for untraceable foreign funding by banning crypto contributions for partisan activities, with severe penalties up to $100,000 for non-compliance.
The Canadian government has moved to formally ban political donations made in crypto. Filed March 26 as part of Bill C-25, the amendment to the Canada Elections Act aims to permanently close potential channels for untraceable foreign funding. Canada Proposes Severe Penalties Up to $100,000 for Defaulters The legislation prohibits cryptocurrency contributions for partisan activities.