Briefing: Prohibiting crypto donations to tackle dirty money and foreign interference threats to UK democracy

This briefing is to support amendment NC4 to the Representation of the People Bill which prohibits political parties and candidates from accepting cryptocurrency donations, either directly or through a third-party payment processor.

These measures would bring the UK in line with countries such as Ireland and Brazil and certain US states who prohibit such donations.

The purpose of the prohibition is to prevent major risks that political donations made in cryptocurrency pose to the integrity of elections. These risks include:

• the ease with which cryptocurrency could be used to facilitate impermissible donations
• the use of cryptocurrency by hostile states such as Russia to engage in electoral interference, and
• the high risks of illicit finance in cryptocurrency which could lead to donations that might originate from crime, including sanctions evasion.

Read the full briefing below.