The Chair of the UK Parliament’s Joint Committee on the National Security Strategy has written to the Government urging ministers to temporarily block cryptocurrency donations in political finance until the Electoral Commission produces statutory guidance. The letter, sent to the Secretary of State for Housing, Communities and Local Government by Matt Western, follows evidence sessions on UK political finance involving journalists, civil society groups, crypto industry representatives and law enforcement. It also recommends a single national police force lead for political finance with a focus on foreign interference risk, interim conditions on crypto donations such as using Financial Conduct Authority-registered platforms and converting donations to sterling within 48 hours, tougher sentences for criminal breaches of political finance law relating to foreign money, and stronger Electoral Commission powers to compel financial institutions to provide information on the source of donation funds.
UK Parliament 2026-02-24
UK Parliament's Joint Committee on the National Security Strategy Chair recommends temporary moratorium on crypto donations pending Electoral Commission guidance
The Chair of the UK Parliament’s Joint Committee on the National Security Strategy has urged the Government to block cryptocurrency donations in political finance until statutory guidance is issued by the Electoral Commission. Recommendations include a national police lead on political finance, interim conditions on crypto donations, tougher sentences for breaches involving foreign money, and enhanced Electoral Commission powers to trace donation sources.