Ireland wants to Ban Cryptocurrency Donations to Political Parties

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Ireland wants to Ban Cryptocurrency Donations to Political Parties
21 Apr 2022
5 min read

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News Synopsis

Recently the Republic of Ireland announced that it wants to ban political parties from receiving donations in the form of cryptocurrencies, Ireland wants to impose this ban in order to tackle the potential Russian election interference as the Kremlin continues its invasion of Ukraine. The country’s Local Government Minister, Darragh O'Brien wants to amend the Electoral Bill 2022 to enact a ban, telling the Irish Independent that Russia's continued disinformation effort shows the "fundamental threat faced by all democracies." Additionally, the nation’s Electoral Commission will issue take-down notices to social media platforms and clarify its rules on misinformation.

Ireland isn't the first government body to impose a ban on political donations in the form of cryptocurrency made to political parties. Prior to Ireland’s move, States like California, Oregon, and Michigan have already passed legislation banning political donations made through digital assets. On the other hand, the war-affected Ukrainian government has promoted crypto donations in recent months amid its ongoing war with Russia. Ukraine even has an official website where people around the world can donate 16 different types of cryptocurrencies.

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