Canada has joined the UK in restricting digital asset contributions to politicians as part of efforts to safeguard election integrity.
The introduction of the Strong and Free Elections Act comes after weeks of international cooperation to mitigate foreign influence on local politics. The bill, which includes provisions for the regulation of various types of donations, aims to improve transparency and accountability in Canadian elections.
Under the proposed law, cryptocurrency donations would be prohibited alongside other untraceable forms of payment such as money orders and prepaid products. If a party were to receive an unauthorized contribution, it would have 30 days to return or destroy the donation.
In cases where neither option is feasible, the contribution should be converted into cash and deposited with the Chief Electoral Officer for forwarding to the Receiver General.