On March 29, Canada's Bill C-25 will prohibit the use of cryptocurrency, money orders, and prepaid cards for donations in the federal political system, thereby closing this fundraising channel that has hardly been used since it was first allowed in 2019.

The Chief Electoral Officer initially leaned towards strengthening regulations but shifted to recommending a complete ban in 2024, citing that cryptocurrencies have "pseudo-anonymity" and fundamental difficulties in verifying donor identities.

The bill is a reintroduction of the previously unsuccessful Bill C-65, which stipulates that illegal crypto donations must be refunded or surrendered within 30 days and imposes penalties for violations: businesses can be fined up to double the donation amount plus $100,000. The bill has currently entered the first reading stage in the House of Commons.