UK Lawmakers Push for Complete Ban on Crypto Donations to Political Parties

Seven UK parliamentary committee chairs have called for a total prohibition on cryptocurrency donations to political parties, citing risks to transparency and electoral integrity. The joint letter, submitted on January 11, argues that digital assets could obscure funding sources and enable foreign interference in British politics.

Liam Byrne, chair of the Business, Energy and Industrial Strategy Committee, warned that cryptocurrencies' pseudonymous nature creates enforcement challenges. "Current technology makes it especially hard to manage these risks," he stated, echoing concerns raised by the Electoral Commission about disclosure loopholes and foreign influence.

This MOVE intensifies an ongoing debate about cryptocurrency's role in UK elections, with the Labour government having previously considered similar restrictions. The proposal reflects growing global scrutiny of crypto's intersection with political financing systems.