Ireland has a new amendment on the table that seeks, among other things, to ban campaign financing using cryptocurrencies.
The task force that developed the proposed guidelines cites possible Russian interference with elections as the reason for banning crypto donations.
Ireland has drafted a new law that could see crypto donations to political parties banned in the country. The new amendment is a product of a task force established by Minister Darragh O’Brien in January 2022. The team consists of political scientists and legal experts tasked with investigating new election rules for the European nation.
Importantly, the task force is creating a “legal and digital bulwark” to ward off foreign interference in elections, more so in light of the Russia-Ukraine conflict. Banning crypto donations limits interference from Russia, a nation that is now considering legalizing cryptocurrencies to evade its multiple sanctions. The country has already made public its openness to Bitcoin
