UK Bans Crypto Donations To Political Parties

LONDON, March 26 (Bernama-Anadolu) -- UK Prime Minister Keir Starmer on Wednesday said that the UK has banned cryptocurrency donations to political parties as part of a crackdown on foreign interference, following a government-commissioned review into threats to British democracy, Anadolu Ajansi reported.

Lawmakers will also introduce a £100,000 (US$133,000) annual cap on donations from Britons living abroad.

A review of overseas donations was launched last year amid concerns about foreign states attempting to meddle in UK politics.

Banning cryptocurrency donations is expected to have particular implications for the far-right Reform UK, the only Westminster party known to have accepted such contributions.

The party announced last year it would accept donations in Bitcoin and later said it had already received a small number.

Communities Secretary Steve Reed said in a statement that the changes were necessary to defend democratic integrity.

“This Government will do whatever is necessary to protect our democracy,” he said. “Foreign interference and dirty money are menacing the integrity of our elections.”

“A ban on cryptocurrency donations is vital. The UK will now be a world leader in stamping out this growing threat to freedom,” he said.

Reed said donations from overseas voters exceeding the new £100,000 cap would become unlawful, with parties required to return the funds within 30 days.

“Once the legislation comes into force … enforcement action can be taken and criminal penalties will apply,” he said.

Reed said failing to introduce some of the measures immediately would risk creating a “window of opportunity” for “malign and hostile actors” to circumvent safeguards being put in place.

-- BERNAMA-ANADOLU