UK MPs call for ban on cryptocurrency political donations

PANews reported on July 17 that according to Cointelegraph, several British MPs have recently called for a ban on the use of cryptocurrencies for political donations, fearing that they are difficult to track and may lead to foreign interference. Cabinet Office Minister Pat McFadden said that existing legislation needs to be updated in a timely manner to ensure that political financing is transparent and credible. Earlier, the British Reform Party announced that it would accept Bitcoin donations, which attracted attention from all walks of life. Anti-corruption agencies warned that allowing cryptocurrency donations will increase the risk of criminal funds flowing into the political field. In addition to the UK, Ireland and some states in the United States have also imposed bans on cryptocurrency political donations.