The UK government has announced a ban on using cryptocurrencies for political donations until a robust regulatory framework is established. Additionally, a cap of £100,000 per year has been set for political donations from overseas voters, including equivalent loans and regulated transactions. These measures will be implemented through amendments to the Representation of the People Act and will have retroactive effect. Political entities will be required to return any non-compliant donations within 30 days of the law's enactment. These actions are based on recommendations from the Rycroft Review, aimed at addressing risks of foreign interference and untraceable funds.
UK Bans Crypto Political Donations Pending Regulatory Framework
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