"The government, led by Prime Minister Keir Starmer, stated the move is designed to prevent untraceable funds from being funneled into U.K. politics."
"Steve Reed, Secretary of State for Housing, Communities and Local Government, emphasized the importance of the ban: Foreign interference and dirty money are menacing the integrity of our elections."
"The release of the Rycroft Review on Wednesday provided the necessary legal footing for the ban, recommending greater powers for the Electoral Commission to investigate financial wrongdoing."
The UK government has implemented a ban on cryptocurrency donations to political parties to combat untraceable funding. British citizens abroad will face a donation cap of approximately $134,000. The new regulations took effect on March 25, with an amendment to the Representation of the People Bill applied retrospectively. Political parties will have 30 days to return unlawful donations. The decision responds to concerns about foreign influence in elections, particularly from Russia, and follows the Rycroft Review, which recommended enhanced powers for the Electoral Commission.
Read at news.bitcoin.com
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