Chairman of the UK National Security Committee calls for a ban on cryptocurrency political donations to prevent foreign interference in UK elections

ChainCatcher News, Matt Western, Chairman of the UK National Security Committee, has called for an urgent temporary ban on cryptocurrency political donations to prevent foreign interference in UK elections. Matt Western stated that such donations should be suspended until the risks associated with cryptocurrency donations—including thorough checks on the source of funds—are properly addressed.

The committee also called for a review of sentencing for electoral offenses, believing that deterrence needs to be strengthened. Western has written to Cabinet Minister Steve Reed, who is responsible for election finance, urging immediate action—since the new election bill did not include provisions to restrict cryptocurrency donations. Earlier this year, Reform UK became the first political party to announce it would accept digital currency donations, reportedly receiving its first registered cryptocurrency donations and establishing a dedicated crypto portal. In his letter, Western stated that, given the deteriorating global security environment, the committee is concerned that the intention of foreign interference in UK political finance may intensify ahead of the next election.