UK calls to ban crypto donations in politics over foreign influence risks
A UK parliamentary committee has proposed a temporary ban on political donations in cryptocurrencies, warning about the risks of foreign interference and gaps in oversight of party financing.
In its report, the Joint Committee on the National Security Strategy said crypto donations pose an “unacceptably high risk” to the transparency of the political system. Lawmakers are urging amendments to electoral legislation and calling for a moratorium until stronger safeguards are introduced.
A key concern is the difficulty of tracing the origin of funds. The use of mixers, privacy coins and cross-chain transactions can obscure where donations come from. Lawmakers also highlighted risks связанные с искусственным интеллектом, включая возможность дробления крупных пожертвований на тысячи мелких транзакций, которые не подпадают под требования отчетности.
Balancing control and innovation
Record crypto donations totaling £9 million have already pushed the Reform UK party to the top in political fundraising in the third quarter, reigniting debate within the government over banning such contributions. Party leader Nigel Farage has said they aim to attract the crypto community into politics by accepting digital asset donations.Experts remain divided: some argue that crypto transactions can be transparent under proper regulation, while others warn that a blanket ban could simply push such activity offshore. At the same time, policymakers insist that current oversight mechanisms are insufficient to prevent abuse. Proposed compromises include limiting donations to licensed platforms, banning mixers and strengthening source-of-funds checks.
More public companies are also adding Bitcoin to their reserves alongside traditional assets, reflecting a broader trend of integrating crypto into financial strategies.
Earlier, it was reported that the UK regulator brought charges against DSJ Exchange over suspected illegal financial promotion.
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