Under the proposed legislation, any political contributions made through banned methods—including crypto—would need to be returned, destroyed, or handed over to election authorities. Violations could result in severe penalties, including fines up to twice the contribution amount and additional penalties of up to $100,000 for corporations.

The bill also expands regulations beyond financial contributions, addressing risks like deepfake content used to mislead voters. While the proposal still needs to pass multiple legislative stages, it signals a broader push to modernize election laws in response to emerging digital threats.