According to Deep Tide TechFlow news on July 18, reported by Cryptonews, UK Cabinet Office Minister Pat McFadden has called on election officials to consider banning the use of digital currencies for political donations to prevent foreign powers from influencing UK politics through untraceable cryptocurrencies.
McFadden told MPs that tracking cryptocurrency donations is challenging and urged the Electoral Commission to review whether current rules apply to the evolving digital age. Previously, Nigel Farage announced that his Reform UK party would become the first UK political party to accept bitcoin donations.
The anti-corruption organization warns that such practices could open the door to covert foreign interference. Labour MP Liam Byrne emphasized the need to strengthen the resources of the Electoral Commission and the National Crime Agency to better regulate political funding.
