Ireland bans political crypto donations on foreign interference fears
A raft of new political and electoral integrity laws proposed in Ireland will see the banning of donations made in crypto to political parties in the country. Donations made to political parties using cryptocurrencies will be banned in Ireland under new political integrity laws drafted due to concerns around foreign interference in politics.Amendments proposed by Minister Darragh O’Brien also cover rules around foreign donations, misinformation, and other transparency requirements for political parties, citing fears of Russian interference in Ireland’s elections.Speaking with the....
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The government of Ireland is preparing to ban political parties from accepting campaign donations in cryptocurrency. The move aims to block the perceived threat of Russian interference in the European nation’s elections against the backdrop of a clash between the West and Moscow over the war in Ukraine.
Ireland to Limit Foreign Political Support for Its Parties, Including Crypto Donations
The executive power in Dublin is drafting new political integrity rules to limit foreign political donations amid fears that Russia might try to influence Ireland’s electoral....
New York-based crypto exchange Gemini opened its local office in Dublin, Ireland, last year. Now, it is granted with a VASP license. New York-based crypto trading platform Gemini claims to be the first one to get registered as a virtual asset service provider (VASP) by the Central Bank of Ireland (CBI). Earlier in February 2022, a company received an electronic money institution (EMI) authorization from the CBI. The news was reported on Gemini’s official blog on Tuesday. As Gillian Lynch, head of Ireland and the European Union for Gemini, commented on the release: “Gemini was founded on....
Digital currencies have the potential to make politics in Ireland more transparent. That's what political candidate Ossian Smyth thinks, anyway. The hopeful is running for a local election in the Dún Laoghaire town just over 7 miles south of Dublin's city center, and he's making a splash in the crypto-currency community by announcing he's accepting bitcoin for his campaign. This effectively makes Smyth the first in Ireland to do so. Smyth is running for the Green Party, and his experience in the technology field is extensive, having worked for Microsoft and Citibank as an IT consultant.....
How do you get lawmakers to understand the concept of bitcoin and digital currency in the most effective way possible? It's a question that's been answered by BitPay (a bitcoin digital payments processor) and CoinVox (a bitcoin services firm for political organizations). The two companies have teamed together to offer an "all-in-one" solution for political candidates, political action committees and political organizations to easily accept bitcoin donations. The integration will effectively allow political groups to securely accept contributions/donations while remaining compliant with....
The Federal Election Commission (FEC) in the US has been asked to decide whether bitcoin donations can be used in political campaigns. Lawyers for Conservative Action Fund PAC (CAF) wrote to the commission on whether political candidates are allowed to accept donations in bitcoins as well as dollars. The request, which was written by Dan Backer of campaign finance and political law firm DB Capitol Strategies, also asks the commission to clarify whether CAF may then sell or directly spend any bitcoin donations it receives. "As increasing numbers of individuals trade in bitcoin, political....