ChainCatcher reports that, according to The Block, seven UK parliamentary committee chairs have jointly written to the government urging a comprehensive ban on cryptocurrency political donations in the upcoming Election Bill. Committee Chair Liam Byrne and others believe that cryptocurrency donations could undermine transparency and traceability of political funding and pose a risk of foreign interference in UK politics.
This move increases pressure on the Labour government, which considers cryptocurrency donations a risk to electoral integrity. However, due to implementation complexities, it may not be included in the bill in the short term. Reform UK became the first party in the UK to accept Bitcoin donations last year, with leader Nigel Farage framing this as part of a broader “cryptocurrency revolution.”
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