PANews reported on July 17 that, according to Cointelegraph, a number of British parliamentarians have recently called for a ban on cryptocurrencies for political donations, fearing that it is difficult to track and may trigger foreign interference. Cabinet Office Minister Pat McFadden said existing legislation needed to be updated in a timely manner to ensure that political financing was transparent and credible. Previously, the British Reform Party announced that it would accept Bitcoin donations, which attracted attention from all walks of life. Anti-corruption agencies have warned that allowing cryptocurrency donations will increase the risk of criminal money flowing into the political sphere. In addition to the United Kingdom, Ireland and some states in the United States have also imposed a ban on cryptocurrency political contributions.
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British lawmakers have called for a ban on cryptocurrency political donations
PANews reported on July 17 that, according to Cointelegraph, a number of British parliamentarians have recently called for a ban on cryptocurrencies for political donations, fearing that it is difficult to track and may trigger foreign interference. Cabinet Office Minister Pat McFadden said existing legislation needed to be updated in a timely manner to ensure that political financing was transparent and credible. Previously, the British Reform Party announced that it would accept Bitcoin donations, which attracted attention from all walks of life. Anti-corruption agencies have warned that allowing cryptocurrency donations will increase the risk of criminal money flowing into the political sphere. In addition to the United Kingdom, Ireland and some states in the United States have also imposed a ban on cryptocurrency political contributions.