UK Lawmakers Push to Ban Crypto Political Donations

Seven senior UK Labour Party lawmakers, including committee chairs, sent a letter to Prime Minister Keir Starmer requesting a ban on political donations made using cryptocurrency. They argue that crypto assets obscure the true source of funds, facilitate micro-donations below disclosure thresholds, and expose UK politics to foreign interference, noting the Electoral Commission finds these risks hard to manage with current technology. The push comes ahead of an elections bill expected this month, though government officials reportedly find a ban complex to implement in time. This potential ban contrasts with Reform UK's earlier stance supporting crypto donations, though Reform UK states it does not accept anonymous crypto gifts. Advocacy groups like the UK Anti-Corruption Coalition also support the ban, aligning it with concerns over illicit finance and hostile actors exploiting democratic systems.

(Source：Cointelegraph)