UK Labour committee chairs urge ban on crypto political donations

Seven committee chairs from the UK's Labour Party have urged the government to ban political donations made in cryptocurrency in the next election bill. According to The Block, the lawmakers argued that crypto donations could enable foreign interference and make funds difficult to trace. The move follows an earlier announcement by Nigel Farage, leader of Reform UK, that his party would become the first in the country to accept donations in Bitcoin and other cryptocurrencies starting in May 2025.