Proposal for Moratorium on Crypto Donations in the United Kingdom
Matt Western, Chair of the UK National Security Strategy Joint Committee, suggested to the government that crypto donations to political parties be temporarily halted due to the risk of foreign interference. In a letter sent to Steve Reed on Monday, he demanded that a moratorium for this purpose be added to the Representation of the People Bill and lifted upon the publication of legal guidance by the Electoral Commission. Western noted that with the deteriorating security environment, foreign states’ attempts to influence UK politics—for example, on Ukraine or US/EU relations—could increase.
Matt Western’s letter to Steve Reed. Source: UK Parliament
Matt Western’s Detailed Proposals and Previous Demands
In January, MPs including Western had demanded a full ban, but the bill presented on February 12 did not include it. Western also proposed the use of FCA-registered crypto services under Electoral Commission guidance, banning mixers and donations from unknown sources, and converting crypto donations to fiat within 48 hours. In the long term, he recommended establishing a national police force to oversee political financing and checks on donors’ sources of wealth.
Reform UK’s Bitcoin Acceptance and Increasing Risks
Reform UK was one of the first parties to begin accepting Bitcoin (BTC) detailed analysis last May. This step highlights BTC’s role in the political arena while triggering concerns about foreign interference. The bill will go to second reading on March 2, with the general election not until 2029.
BTC Market: Current Price, Support and Resistance Levels
BTC PERP rose %8,40 from the low of 62.401 dollars, returning to the weekly positive zone. Current price 68.257 dollars (+%3,59 24h), RSI 43,12 (neutral), EMA 20: 69.273$. Supports: S1 68.012$ (strong, -0,36%), S2 64.323$ (-5,76%). Resistances: R1 68.714$ (+0,67%), R2 78.962$ (+15,68%). BTC futures giving downtrend signal.
Institutional BTC Usage and Global Context
GD Culture Group (GDC) announced it will use its 7.500 BTC reserve for share buybacks. This demonstrates BTC’s institutional adoption while linking UK regulatory debates with global risks. UAE banks’ crypto assets are also increasing similar calls for oversight.
Source: https://en.coinotag.com/request-for-temporary-ban-on-crypto-donations-in-the-uk
