UK Moves to Block Crypto Donations in Bid to Safeguard Elections

The UK government is taking steps to ban cryptocurrency donations in political campaigns, aiming to prevent anonymous and foreign funding from distorting elections.

Pat McFadden, a Cabinet Office minister, endorsed the idea on Tuesday, telling lawmakers that crypto’s traceability issues make it unfit for campaign financing. His statement followed concerns raised by Labour’s Liam Byrne about unverified donations.

“We must keep our legislation up to date to ensure trust in political funding,” McFadden said.

While the US leans into crypto fundraising—with figures like Donald Trump embracing it—the UK’s push reflects a broader debate over how to regulate digital assets in democracy.