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BTCC / BTCC Square / Global Cryptocurrency /
UK Committee Urges Ban on Crypto Political Donations Amid Foreign Influence Concerns

UK Committee Urges Ban on Crypto Political Donations Amid Foreign Influence Concerns

Author:
Global Cryptocurrency
Published:
2026-01-12 04:53:01
27
3
BTCCSquare news:

A group of senior Labour MPs has called for an outright prohibition of cryptocurrency donations to political parties, citing risks of foreign interference and regulatory gaps. The backbenchers' committee warned Prime Minister Keir Starmer that crypto's opacity and potential AI-driven obfuscation could undermine electoral integrity.

The push follows Reform UK's record £9 million ($12 million) crypto donation from investor Christopher Harborne ahead of May's local elections. Government plans to address the issue through upcoming elections legislation were accelerated by this transaction, according to Electoral Commission disclosures.

Seven committee chairs including former minister Liam Byrne and shadow attorney general Emily Thornberry signed the open letter. Their demands coincide with growing global scrutiny of crypto's role in political financing, particularly regarding cross-border flows and anonymity-enhancing technologies.

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