UK Bans Crypto Donations, Caps Overseas Gifts

0:00British Prime Minister Keir Starmer announced the ban on political parties accepting cryptocurrency donations. He called illicit finance a major threat to the nation's democracy and promised quick action during questions in Parliament. The government also set a yearly cap of 100,000 pounds on gifts from British voters living overseas. This hits reform UK hard as the party took in 12 million pounds last year from a donor based in Thailand. Reform UK's deputy leader slammed the rules as an effort to block their momentum. The party, which holds just 8 seats out of 650, still tops opinion polls over labor and the conservatives. A recent government review highlighted risks of untraceable crypto funds slipping foreign money into politics. The expert urged a pause on such donations until better rules are in place. Parliament must approve the changes, but they will apply retroactively from this week. This fits with other steps, like tighter corporate giving limits and dropping the voting age to 16, all to safeguard elections.

1:04This has been Canada News Today, powered by AI. I'm Corey with The Story.