While the US is embracing cryptocurrencies as a new tool for campaign fundraising, UK officials are pushing to ban them, citing concerns about transparency and foreign influence.
On Tuesday, Pat McFadden, minister of the Cabinet Office, argued that cryptocurrency donations should be banned due to their lack of traceability.
His comments came in response to a question from Labour MP Liam Byrne, who expressed concern about the role of cryptocurrencies in political financing.
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McFadden highlighted the need to update legislation to ensure public confidence in political financing.
The UK's cautious stance contrasts sharply with that of the US, where figures such as Donald Trump have actively championed the sector.