Ireland's political parties will be banned from accepting cryptocurrency : Report.
The move is being made in response to worries about Russian election interference in Ireland.
Political parties in Ireland will be prohibited from receiving cryptocurrency payments, according to the Irish Independent on Tuesday.
- The action is intended to allay worries about Russian electoral meddling in Ireland.
- Local Government Minister Darragh O'Brien, who is in charge of electoral reform, has written to party leaders outlining steps to prevent foreign intervention in the country's political processes.
- "The heinous invasion of Ukraine and the devious disinformation campaign underline the basic vulnerabilities that all democracies face," O'Brien remarked.
- Concerns that cryptocurrency is being used to circumvent sanctions, such as those imposed on the majority of financial institutions tied to Russia and its allies, are likely motivating cryptocurrency donations.
- However, there is little evidence to support this theory.