Ireland bans cryptocurrency donations to political parties

Ireland bans cryptocurrency donations to political parties

To avoid foreign interference, Irish political parties will no longer be eligible for cryptocurrency donations. The objective is to prevent Russian cyber-interference, subtle in Ireland but worrying in recent years, in particular on its public health services which were hacked in 2021. The country will therefore create a new electoral commission to regulate the next campaigns. .

With our correspondent in Dublin, Laura Taouchanov

All political parties will have to provide accurate statements of accounts, as is already the international norm. So finished for donations in cryptocurrency, because they are too difficult to draw. As for foreign donations, they will be subject to strict control.

Parties will also have to be more transparent about their real estate assets. Some have questioned for years the number of properties held by the Sinn Fein for example.

Assessing the threat of fake news

There will also be more protection against fake news campaigns on social media, which could negatively influence elections. An online committee will therefore be created with experts who can assess this threat. Parties will also need to clearly state how ads are funded and to whom they are directed.

These moves come amid multiple, but unsubstantiated, reports that some Russian oligarchs have started using cryptocurrencies to avoid Western sanctions.

Read: War in Ukraine: economists want to target the hidden money of Russian oligarchs

rf-5-general