Canada advances a bill to prohibit the use of cryptocurrency for political donations

According to Cointelegraph, the Canadian House of Commons has passed the second reading of Bill C-25, which aims to prohibit political parties and candidates from accepting cryptocurrency political donations.

The bill is part of electoral law reform, aimed at enhancing transparency, strengthening enforcement, and reducing the risk of foreign interference. It will subsequently enter committee review and may still be amended, with no fixed review date currently available. Meanwhile, Canada is advancing a regulatory framework for stablecoins and improving rules related to cryptocurrency investment funds, custody, and cold storage.