The UK should ban crypto donations to political parties until they are effectively regulated because they risk foreign financial interference in British politics, according to a government-commissioned review into the matter.
Crypto donations “can be difficult to trace” and “current regulatory frameworks are struggling to keep pace,” the review led by Philip Rycroft, a former senior UK civil servant, argued. It also recommended capping overseas donations at between £100,000 ($133,980) and £300,000 a year “to mitigate the risk that this route is used to allow large foreign donations to slip through the net.”