Matt Western, chair of the UK’s Joint Committee on National Security Strategy, has called for a temporary moratorium on cryptocurrency donations to political parties over concerns about foreign interference.
In a letter to Housing Secretary Steve Reed, Western urged that the upcoming Representation of the People Bill include a pause on crypto donations until the Electoral Commission issues statutory guidance.
“We are concerned that foreign state intent to interfere in UK political finance may grow out to the next election,” said Joint Committee on National Security Strategy chair Matt Western.
Western argued that as the UK’s military role in Europe expands, the incentive for hostile actors to influence political positions on issues such as Ukraine and US-EU relations could intensify.
He recommended that any future framework require political parties to use only crypto service providers registered with the Financial Conduct Authority, prohibit donations routed through mixers or anonymous sources and mandate conversion to fiat currency within 48 hours.
Western also proposed longer-term reforms including the creation of a national police force dedicated to political finance oversight, stronger source-of-wealth checks and enhanced enforcement powers for the Electoral Commission.
The move follows Reform UK becoming the first British political party to accept Bitcoin and other cryptocurrency donations last May, highlighting growing intersection between digital assets and electoral finance.
At the time of reporting, Bitcoin price was $68,258.46.