Ministers urged to ban crypto political donations over foreign interference fears

The chair of the national security committee, Matt Western, is urging the UK government to implement a temporary ban on political donations made in cryptocurrency due to concerns about potential foreign interference in British elections. Western has written to a cabinet minister requesting immediate action, highlighting the absence of cryptocurrency donation restrictions in the new elections bill. The call for a moratorium comes after Reform UK announced it would accept crypto donations, raising concerns about the source of funds and the lack of adequate checks. The committee also expressed concern over the fragmented responsibility for political finance and foreign interference risk across multiple agencies, recommending a single national police lead. They suggest a temporary ban until the Electoral Commission provides statutory guidance and political parties use only FCA-registered crypto service providers.

Explore how the topics in this article connect to other news stories