UK lawmakers seek moratorium on crypto donations to political parties

A UK parliamentary committee urged an immediate moratorium on crypto political donations until stronger safeguards are in place.

A cross-party parliamentary committee in the United Kingdom has urged the government to impose an immediate moratorium on cryptocurrency donations to political parties until stronger safeguards are in place.

In a report published on Wednesday, the Joint Committee on the National Security Strategy said the government should amend the Representation of the People Bill to impose an “immediate moratorium on crypto donations” until the Electoral Commission produces statutory guidance ahead of the next general election, due by August 2029.

The committee also called for the creation of a Political Finance Enforcement Unit to oversee these activities and reduce the minimum threshold for declaring gifts tied to political donations from 11,180 British pounds ($14,900) to 500 pounds ($668), and proposed increasing the maximum custodial sentences to three years for wrongdoing involving foreign financing.

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