UK lawmakers are urging a ban on cryptocurrency donations in political campaigns over fears that such contributions are hard to trace and vulnerable to foreign interference. Minister Pat McFadden said UK political funding must stay transparent and trusted by public.
While crypto donations have gained traction in the US-with figures like President Donald Trump embracing digital assets-the UK's stance reflects growing caution.
The Reform UK party recently became the first in Britain to accept Bitcoin donations, sparking concerns from anti-corruption groups about the risk of criminal or foreign funds influencing elections.
Ireland and several US states have already banned crypto donations to political campaigns, citing transparency and election integrity issues.
As crypto donations increase globally, governments continue to debate how to regulate digital assets to protect democratic processes.
