🚨 UK Alert: Senior Labour MPs Push for Ban on Crypto Political Donations
Seven senior Labour committee chairs (including Liam Byrne, Emily Thornberry & others) have written to PM Keir Starmer urging a full ban on cryptocurrency donations to political parties — to be included in the upcoming Elections Bill.
Key concerns:
- Crypto's opacity makes tracing true sources difficult
- Risk of foreign interference (e.g., micro-donations below thresholds)
- Threat to democratic transparency & electoral integrity
This follows Reform UK becoming the first UK party to accept crypto donations (via their portal with enhanced checks), amid broader worries over foreign actors using digital assets.
Government acknowledges risks but says a ban may not make the Elections Bill due to complexity — review ongoing until March 2026.
Liam Byrne quote: “Crypto is opaque, hard to trace, vulnerable to foreign interference & a growing risk to democratic integrity. We should act NOW… This is not about opposing innovation. It is about protecting democracy.”
Impact on crypto? Potential precedent in Western politics limiting digital asset use in funding — while UK advances broader crypto regulation (stablecoins, platforms by 2026–27).
Meanwhile, market pulse:
BNB trading ~$937–$947 USD (up ~0.4–2.8% in recent 24h turns, strong ecosystem utility amid Binance developments)
ETH consolidating ~$3,328–$3,376 USD (up ~1.3% recently, holding bullish signals with RSI/MACD support)
Potential regulatory chill in UK politics vs. ongoing innovation — could it pressure altcoin sentiment or accelerate compliant adoption? Legitimate democracy safeguard or overreach stifling innovation?
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