UK MPs push to ban crypto political donations over transparency and foreign interference risks.
The government acknowledges concerns but says a ban may not be ready in time.
A group of seven senior Labour MPs is asking Prime Minister Keir Starmer to ban cryptocurrency donations to political parties and wants this ban to be included in the UK election bill that is expected to be introduced ahead of the local elections in 2026. They are arguing that the crypto donations are a serious risk to democracy.
Three Risks Driving Calls to Ban Crypto Political Donations
The MPs say that the crypto donations create three major problems.
Lack of transparency: Cryptocurrency can hide the sender of the money, and it would be very hard to find out who is donating to the politicians.
Foreign Interference risk: Elections could be influenced by hidden donors, including foreign actors and illegal sources, without voters or regulators being able to see it, which breaks the normal pol
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