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Canadian political parties began accepting cryptocurrency donations


According to iPolitics, in connection with the upcoming elections, the Canadian agency “Elections in Canada” asked political parties to present their opinions on cryptocurrency and its regulation. Political parties must submit their comments before January 21.

At the same time, for political organizations, the electoral body issued guidelines for accepting cryptocurrency contributions and conducting transactions using them. Among the issues that are considered in the document, it is indicated how to handle different amounts of deposits. For example, contributions made using Zcash and Monero coins for more than $ 200 will require political parties to provide the name and address of the contributor in the financial statements. Also set a limit on anonymous donations of $ 20.

The explanatory note also states that persons running for office are not allowed to purchase real estate or services directly using digital assets. The same applies to registered political parties, which must first liquidate their digital assets, and then deposit the proceeds into a bank account. However, if the purchase is not related to elections, then a registered political party can acquire real estate and services directly using cryptography.

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