UK government bans crypto donations to political parties; violations subject to criminal penalties
Summary
- The UK government said it will impose a blanket ban on cryptocurrency donations to domestic political parties, regardless of amount.
- If the related bill passes, recipients of cryptocurrency donations must return the full amount within 30 days, and violations will be subject to criminal penalties.
- The UK government cited the risk of overseas funds and the need to prevent foreign interference in domestic politics, saying regulators view anonymous digital payments as a threat to democracy.
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The UK has moved to ban cryptocurrency donations to its political establishment.
According to CoinDesk on the 25th (local time), the UK government announced that it would prohibit cryptocurrency donations to domestic political parties. The ban applies to all crypto donations regardless of amount, and takes effect from that day.
If the relevant legislation passes, any recipient of a crypto donation must return the full amount within 30 days. Violations will be subject to criminal penalties.
The UK government said the ban reflects concerns about the risk of overseas funds flowing in. CoinDesk reported that “the measure places cryptocurrency at the center of a broader crackdown aimed at preventing foreign interference in domestic politics,” adding that it “suggests regulators view anonymous digital payments not merely as a financial risk but as a threat to democracy.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
