Just saw some news worth stopping for. Canada has just proposed a complete ban on cryptocurrency donations for political campaigns. The government filed Bill C-25 on March 26, called the 'Strong and Free Elections Act,' and it's quite a strict approach.

Specifically, this means that Bitcoin, Ethereum, and all other crypto assets would be classified as problematic sources of funding, similar to commercial paper or prepaid cards. The ban extends to the entire political system: registered parties, candidates, campaign teams, even third parties publishing electoral ads. No gray area.

Canada is closely following what the United Kingdom just did with its own suspension of political crypto donations. The main argument is the fear of foreign funds infiltrating the political system through digital assets. It's a legitimate concern for electoral transparency.

If the bill passes, illegally received crypto donations must be refunded or dealt with within 30 days. Penalties? Up to twice the illegal amount, plus an additional fine of up to 100,000 US dollars. That's a deterrent.

What’s interesting is that Canada already allowed crypto donations since 2019, but in practice, almost no one used them. No crypto contributions reported during the 2021 or 2025 elections. Regulators had been questioning the pseudo-anonymous nature of crypto for a long time, but apparently they decided that a total ban was the simplest solution. The bill is currently in its first reading in Parliament.