Brazil's public ministry reaffirms ban on crypto political donations

Brazil's Federal Public Ministry (MPF) has reaffirmed that political parties and election candidates are prohibited from receiving cryptocurrency donations, in accordance with a regulation in effect since 2019. The MPF explained that while election donations require clear identification of the donor, the pseudonymity of cryptocurrencies can undermine the transparency of a fund's origin. It added that parties or candidates who receive election funds in the form of cryptocurrency could face penalties, including fines.