The UK's security chief has called for a temporary ban on cryptocurrency donations to political parties amid security and transparency concerns. The appeal follows Reform UK's move last May to accept Bitcoin and other digital assets.
Gemini Trust and the parent company of Crypto.com contributed a combined $21 million to a pro-Trump PAC in September and October, ahead of the U.S. midterm elections. The moves mark a notable instance of major crypto firms engaging in high‑stakes political spending.
Politico reports the UK is weighing a ban on cryptocurrency donations to political parties as Reform UK leads the polls, raising fresh worries about funding transparency and foreign interference. The proposal aims to curb anonymous and cross-border funding risks tied to crypto.