UK MPs Call for Ban on Cryptocurrency Political Donations

Several British members of parliament have recently called for a ban on the use of cryptocurrencies for political donations, citing concerns about their difficulty to track and the potential for foreign interference. Cabinet Office Minister Pat McFadden stated that existing legislation needs to be updated in a timely manner to ensure transparent and credible political financing. Previously, the Reform UK party announced that it would accept Bitcoin donations, drawing widespread attention. Anti-corruption agencies have warned that allowing cryptocurrency donations would increase the risk of criminal funds flowing into the political sphere. In addition to the UK, Ireland, and some US states have also implemented bans on cryptocurrency political donations. (Cointelegraph) [Odaily Planet Daily News]