The chairman of the UK's National Security Council calls for a ban on cryptocurrency political donations to prevent foreign interference in UK elections

Chair of the UK National Security Council, Matt Western, has called for an urgent temporary ban on political donations in cryptocurrency to prevent foreign interference in UK elections. Matt Western stated that such donations need to be suspended until the risks associated with cryptocurrency donations (including thorough checks on the sources of funds) are adequately addressed.

The council also called for a review of sentencing for electoral offenses, believing that deterrence needs to be strengthened. Western has written to Cabinet Minister Steve Reed, who is responsible for election finance, requesting immediate action—previously, the new election bill did not include provisions to restrict cryptocurrency donations. Earlier this year, the Reform UK party became the first to accept donations in digital currency, reportedly receiving its first registrable cryptocurrency donations and setting up a dedicated crypto portal. In his letter, Western expressed concern that, given the deteriorating global security environment, the intention of foreign interference in UK political finance may intensify before the next election.