The UK government is considering banning cryptocurrency for political donations to avoid foreign interference

BlockBeats News, December 2nd, according to Politico, the UK government is considering banning cryptocurrency donations for political purposes to prevent foreign interference in the political donation system. Earlier, the Reform UK became the first UK political party to accept cryptocurrency donations. Led by Nigel Farage, the Reform UK has recently surged in UK polls, announced earlier this year that it would accept cryptocurrency donations as part of its UK "crypto revolution" pledge, and has now actually received its first batch of cryptocurrency donations. Although the upcoming Elections Bill policy document by the UK government did not initially mention a ban on cryptocurrency donations, according to three sources familiar with the matter, officials are currently discussing whether to completely ban using cryptocurrency to fund UK politicians.

Nigel Farage, the de facto leader recognized by the Reform UK, has long held some cryptocurrency assets himself, telling the cryptocurrency industry that he is the "only hope" for the UK crypto sector and is trying to emulate his longtime ally, former US President Trump, in embracing cryptocurrency widely.