Gate News, March 25 — UK Prime Minister Keir Starmer announced that the government plans to suspend political donations made through cryptocurrencies to address illegal fund flows and potential foreign interference risks. During a parliamentary inquiry, Starmer stated that this measure will be introduced as part of efforts to protect the UK’s democratic system, citing government assessments that suggest cryptocurrencies could pose “serious illegal financial risks.” Under the proposal, the suspension is a temporary arrangement aimed at allowing time to improve regulatory rules. Once the new regulations take effect, political parties will be required to refund any received crypto donations; failure to comply could result in criminal penalties after a grace period. This policy stems from a review led by former senior civil servant Philip Rycroft, which recommended suspending the crypto donation mechanism until greater transparency can be ensured. Previously, the UK Labour Party had already suspended all cryptocurrency political donations.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
