UK to Ban Political Crypto Donations on Risk of Interference

The UK government announced a moratorium on political donations in cryptocurrency and a cap on gifts from overseas electors as ministers seek to clamp down on the risk of foreign financial interference in British politics.

“We will do everything necessary to protect the UK’s democracy,” Communities Secretary Steve Reed told the House of Commons on Wednesday, responding to a review on the matter by former civil servant Philip Rycroft. “Mr. Rycroft concludes that this country faces a persistent problem of foreign interests seeking to exert influence on and to interfere in our politics, and that the threat has become arguably more acute.”