The chair of the UK Parliament’s Joint Committee on National Security Strategy has called for an immediate ban on political donations in cryptocurrency, warning of increasing foreign interference in UK elections, according to The Guardian.
Committee Chair Matt Western has written to Electoral Finance Minister Steve Reed, requesting a temporary suspension until stronger protections are in place. He also stated that the current People’s Representation Bill does not include regulations restricting cryptocurrencies.
Western proposed that parties should only use FCA-registered providers, verify the source of funds, and refuse to accept donations with hidden origins.
The committee also criticized the fragmented enforcement across multiple agencies and recommended appointing a single national police lead. The government said it is reviewing options and conducting an independent review led by Philip Rycroft.
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