BlockBeats news, on March 29, according to CoinDesk, the Canadian government proposed the “Strong Free Elections Act” (Bill C-25) on March 26, which seeks to ban political donations to political parties and candidates in the form of cryptocurrencies, money orders, and prepaid cards. The rationale is that such assets have pseudo-anonymity, making it difficult to verify the identity of donors, posing risks to electoral integrity. The bill is currently at the first reading stage in the House of Commons.
The UK Labour Party has similarly stated recently that it will adopt a “temporary ban,” suspending political groups from accepting cryptocurrency donations until relevant regulatory frameworks are improved, to address the risk of foreign interference in elections. This measure is viewed as potentially directly affecting the Reform Party’s funding sources. The party led by Nigel Farage has previously received large donations from cryptocurrency industry figures.