Express
British MPs Call for Ban on Cryptocurrency Political Donations
Summary: Several British MPs have recently called for a ban on using cryptocurrency for political donations, citing concerns about its difficulty to trace and potential for foreign interference. Cabinet Office Minister Pat McFadden stated that existing legislation needs to be updated promptly to ensure transparency and credibility in political financing. Previously, the UK Reform Party announced ...
Several British MPs have recently called for a ban on using cryptocurrency for political donations, citing concerns about its difficulty to trace and potential for foreign interference. Cabinet Office Minister Pat McFadden stated that existing legislation needs to be updated promptly to ensure transparency and credibility in political financing. Previously, the UK Reform Party announced that it would accept Bitcoin donations, sparking widespread attention. Anti-corruption agencies have warned that allowing cryptocurrency donations could increase the risk of criminal funds flowing into the political sphere. Apart from the UK, countries like Ireland and certain states in the US have also implemented bans on cryptocurrency political donations.
