PANews, July 17 - According to Cointelegraph, several British lawmakers have recently called for a ban on the use of cryptocurrencies for political donations, expressing concerns over their difficulty to trace and the potential for foreign interference. Cabinet Office Minister Pat McFadden stated that existing legislation needs to be updated in a timely manner to ensure political financing is transparent and trustworthy. Previously, the British Reform Party announced it would accept Bitcoin donations, drawing attention from various sectors. Anti-corruption agencies have warned that allowing cryptocurrency donations would increase the risk of criminal funds flowing into politics. In addition to the UK, Ireland and some states in the United States have also implemented bans on cryptocurrency political donations.
