Political parties in the Republic of Ireland will be banned from accepting donations in cryptocurrency, the Irish Independent reported Tuesday.
- The move is being made to counter concerns over Russian interference in Irish elections.
- Local Government Minister Darragh O'Brien, who is in charge of electoral reform, has written to party leaders detailing measures to combat potential foreign meddling in the country's democratic processes.
- “The appalling invasion of the Ukraine and insidious disinformation war highlight the ongoing fundamental threats faced by all democracies,” O'Brien said.
- Cryptocurrency donations are likely being targeted on concerns that crypto is used to short circuit sanctions, such as those placed on the majority of financial institutions linked to Russia and its allies.
- However, there remains little evidence that this is the case.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.