Irish authorities ban political donations in cryptocurrency

by in Cryptocurrency News

Ireland

A new law in Ireland will ban all types of political donations in the form of cryptocurrencies.

The government fears that this form of political financing undermines the country's sovereignty and makes it easier for outside interference in its internal affairs.

The law was initiated by Minister Darra O'Brien. In an interview with Independent journalists, he noted that the cryptocurrency can be used both to finance parties and to publish false information about the social and political situation in Ireland.

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First of all, Dublin fears the Russians will interfere with their election campaigns. The Electoral Commission will ensure that digital currencies are not used by politicians' headquarters.

The Irish Public Service Standards Commission and Minister O'Brien's representatives have so far made no official comments on the preparation of the bill.

The Central Bank of Ireland is extremely negative about decentralized cryptocurrencies. But he supports the concept of a digital euro. According to the regulator, the CBDC will create conditions for the qualitative modernization of the EU financial infrastructure.