UK ministers are calling for a ban on cryptocurrency donations in political campaigns, arguing that their lack of traceability undermines democratic integrity.
Pat McFadden, a Cabinet Office minister, backed the proposal on Tuesday, telling Parliament that unchecked crypto funding could allow foreign actors and illicit money to influence elections. His comments came after Labour MP Liam Byrne pressed for stricter rules.
“It’s vital we know who’s behind political donations,” McFadden said, stressing the need for updated campaign finance laws.
The UK’s cautious approach contrasts with the US, where crypto donations are gaining traction—raising questions about how democracies worldwide will handle digital assets in politics.
