On July 17 (UTC+8), several British members of parliament recently called for a ban on the use of cryptocurrencies for political donations, expressing concerns that they are difficult to track and may lead to foreign interference. Cabinet Office Minister Pat McFadden said that existing legislation needs to be updated in a timely manner to ensure that political financing is transparent and credible. Previously, the Reform UK party announced that it would accept Bitcoin donations, which has attracted widespread attention. Anti-corruption agencies have warned that allowing cryptocurrency donations will increase the risk of criminal funds flowing into the political sphere. In addition to the UK, Ireland, and some US states have also implemented bans on cryptocurrency political donations. [MetaEra]