TechFlow, July 17 — According to Cointelegraph, UK Cabinet Office Minister Pat McFadden expressed support for banning cryptocurrency donations in political activities, citing difficulties in tracing the origin of such funds. This move contrasts sharply with the United States, where the crypto industry has invested $134 million in pro-crypto candidates. The UK Reform Party previously announced it would accept Bitcoin donations, becoming the first political party in the UK to do so. Ireland banned such donations in 2022, and several U.S. states have implemented similar restrictions. Anti-corruption watchdogs warn that cryptocurrency donations could increase the risk of foreign interference in politics.
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