British Government Evaluates Banning Political Contributions in Cryptocurrencies
According to information from BlockBeats, the UK government is considering the possibility of preventing political campaigns from receiving donations in cryptocurrencies, with the aim of avoiding potential external influences on electoral funding. The discussion gained momentum after the Reform UK party became the first party in the country to accept contributions in digital assets.
Led by Nigel Farage, Reform UK has been gaining in the polls and announced earlier this year that it would start accepting donations in crypto assets, reinforcing its positioning aligned with the so-called "crypto revolution" in the UK. The party has already recorded its first receipt of funds in this modality.
Although the preliminary document of the Election Bill did not contain references to a potential ban, three sources familiar with the matter stated that authorities are currently debating whether to impose a total ban on the use of cryptocurrencies in British political financing.
Nigel Farage, a central figure of Reform UK, has had some investments in crypto for years. He stated to the sector that it represents the "only hope for the crypto industry in the UK" and seeks to follow the steps of his longtime ally, US President Donald Trump, by adopting a strongly favorable stance towards digital assets.
