Canada Moves to Ban Crypto Political Donations Under New Election Bill

Canada has introduced legislation that would bar cryptocurrency-based political donations across the federal election system, underscoring how policymakers are tightening rules around digital assets even as global markets grapple with a fresh mix of sanctions, geopolitical risk, and large stablecoin flows.

According to Wu Blockchain, the Canadian government has tabled Bill C-25, a proposal designed to prohibit political contributions made in crypto across federal electoral processes. If passed, the move would align political finance rules more closely with traditional banking rails and reduce the scope for opacity in funding sources—an issue regulators have repeatedly highlighted as adoption grows.

The proposal arrives as other jurisdictions ramp up enforcement actions tied to illicit finance. Odaily reported that the UK announced additional sanctions targeting a fraud network operating in Southeast Asia, adding Hu Xiaowei—described as closely linked to Cambodia’s Prince Group—to its sanctions list. Analysts say such measures reflect an increasingly cross-border approach to tackling scam infrastructure, which has become intertwined with crypto payment channels, mule networks, and high-velocity laundering methods.

In market infrastructure, Odaily also reported that a Shanghai-based bank is preparing to issue bonds backed by Bitcoin (BTC) as an underlying asset. While details were not disclosed, the plan highlights continued experimentation with crypto-linked structured products in Asia, at a time when tokenization narratives are competing with caution around volatility, collateral management, and investor suitability.

Elsewhere in the corporate landscape, PANews cited The Street in reporting that Goliath Ventures has filed for Chapter 11 bankruptcy protection, entering court-supervised restructuring. The filing comes amid a broader shakeout across risk assets, where higher funding costs and weaker liquidity have pressured smaller firms and speculative ventures.

Macro conditions remain a dominant driver of sentiment. Odaily reported that the conflict involving the United States, Israel, and Iran has continued for nearly a month, with persistent disruptions to shipping through the Strait of Hormuz rattling global energy supply chains and pushing international oil prices higher. In a separate note, Odaily cited analysis suggesting crude could remain above $100 per barrel if current Middle East conditions persist. Elevated energy costs can feed into inflation expectations and interest-rate pricing—variables that typically influence crypto flows via the broader risk-on/risk-off cycle.

On-chain activity also drew attention after Whale Alert reported the movement of 300 million USDC across the Ethereum (ETH) network from one unidentified wallet to another. Large stablecoin transfers do not necessarily signal immediate buying or selling, but traders often track them as potential indicators of 'liquidity repositioning' ahead of exchange deposits, OTC settlement, or treasury management.

In Latin America, Odaily reported that Brazilian President Luiz Inácio Lula da Silva signed an anti-gang bill on Tuesday, a measure framed as targeting organized crime. While not solely crypto-focused, such legislation is being watched by compliance teams because enforcement tools aimed at criminal networks can broaden scrutiny of payment intermediaries and digital-asset ramps.

Finally, Odaily reported that signs are emerging of a gradual recovery in the U.S. labor market in March following weakness in February—an economic data thread that could shape expectations for monetary policy. Odaily also said Google is pursuing more than $5 billion in initial funding to support a large Texas data center project operated by Nexus and leased to Anthropic, reflecting sustained investment into AI infrastructure even as markets remain sensitive to liquidity and macro shocks.

Together, the developments illustrate a market environment where 'regulatory tightening'—including proposed restrictions on political donations—coexists with intensifying enforcement against scam networks, high-profile on-chain transfers, and macro volatility driven by energy and geopolitics. For crypto participants, the near-term focus remains on how policy decisions and cross-border enforcement translate into changes in access, compliance costs, and overall market liquidity.