Gate News reports that on March 19, the UK Treasury Select Committee and the All-Party Parliamentary Group on Blockchain and Digital Assets (APPG) called for an immediate ban on political donations made in the form of cryptocurrencies. This move comes amid recent controversies over “dark money” flowing into the political system, with lawmakers believing that the anonymity of crypto assets could be used to circumvent existing political funding transparency requirements. The lawmakers pointed out that blockchain addresses are difficult to verify for actual beneficiaries and could be used to obscure the source of funds, posing risks of foreign interference and money laundering. Some investigations also found that certain crypto donations in winter 2025 could be traced back to overseas IP addresses. Under the proposal, political parties would need to liquidate existing crypto assets and refuse future related donations to ensure political funding returns to the traditional financial system. In response, crypto industry organizations consider a complete ban to be an overreaction and suggest enhancing transparency through measures like strengthened KYC procedures.
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