UK Security Chair Wants Temporary Ban on Crypto Donations
A UK security chair is urging a temporary ban on cryptocurrency donations to political parties due to concerns about foreign interference.Summary
Matt Western, chair of the UK's Joint Committee on National Security Strategy, has called for a temporary halt on crypto donations to political parties, expressing concerns about potential foreign interference in UK elections. In a letter to Steve Reed, he proposed a “temporary moratorium” until the Electoral Commission provides clear statutory guidance. Western highlighted the increasing value of influencing UK political positions, particularly regarding Ukraine and US/EU relations, as the security environment worsens. He also suggested that the Electoral Commission’s guidance should mandate the use of FCA-registered crypto services, prohibit donations from mixers or unknown sources, and require parties to convert crypto to fiat within 48 hours. Additionally, Western advocated for a national police force dedicated to overseeing political finance and combating foreign interference, along with source-of-wealth checks for donors and stricter penalties for electoral finance offenses. Reform UK was the first party to accept crypto donations, starting in May of last year.
(Source：Cointelegraph)