UK lawmakers push to ban crypto donations in political campaigns
With millions in crypto flowing into US elections, governments worldwide face pressure to regulate digital campaign contributions.
While countries like the United States explore crypto as a new campaign fundraising tool, ministers in United Kingdom are sounding the alarm, with one calling for a ban on crypto donations over concerns about traceability and foreign interference.
On Tuesday, Pat McFadden, a Cabinet Office minister, said he thought there was a case to be made for banning such donations, considering how hard they are to trace.
McFadden addressed the topic after being asked by Labor party member Liam Byrne about banning crypto fundraising, saying that the UK should always keep its “legislation up to date to ensure that the financing of politics can be trusted by the public.
