The move is being taken to counter concerns about Russian interference in the Irish election.
Crypto donations to political parties will be banned in Ireland, according to Irish media report.
The ban is part of new political integrity rules being drafted over fears of Russian interference in the Irish election.
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. He stressed:
“The horrific invasion of Ukraine and the insidious disinformation war highlight the ongoing fundamental threats facing all democracies.”
Stricter rules on all foreign donations are also being introduced along with requirements for parties to provide full details of their property portfolios as part of a major restructuring of electoral legislation.
According to the information, the cabinet agreed on the new measures aimed at protecting its democratic system “. given the growing threat of cyberwarfare directed at free countries.”
No to the evasion of sanctions
According to media reports, the move may be related to suspicions that cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. donations are being used as a means to evade international economic sanctions, which are being imposed by countries on most financial institutions linked to Russia and its allies. However, it says Coindesk that there is little evidence that this is the case.
The European Union clarified at the beginning of March that economic sanctions on Russia include cryptocurrency trading . But, despite such prohibitions, it is worth remembering that international organizations such as the International Monetary Fund have warned that Russia could be using cryptocurrencies to evade sanctions . However, the Bank of Russia has declared that it is impossible to use crypto for that purpose.
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