The chairman of the UK parliamentary committee calls for a ban on political donations in cryptocurrency

According to The Block, seven chairs of parliamentary committees in the UK have jointly written to the government, urging a comprehensive ban on cryptocurrency political donations in the upcoming Elections Bill. Liam Byrne, chair of the Business Committee, and others believe that cryptocurrency donations could undermine the transparency and traceability of political funding, and expose UK politics to the risk of foreign interference.

This move adds pressure to the Labour government, which, although it considers cryptocurrency donations a risk to electoral integrity, may not include them in the bill in the short term due to implementation complexities. Reform UK became the first party in the UK to accept Bitcoin donations last year, with its leader Nigel Farage positioning this move as part of a broader "crypto revolution."