Ireland’s government is planning to prohibit cryptocurrency donations from political parties. 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 will 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 process. They will prohibit parties in Ireland from receiving donations via cryptocurrencies, and they will be required to reveal all of their property.
A report by the Irish daily Independent describes the changes as a significant shake-up of the country’s electoral legislation, which will grant the Electoral Commission powers to issue take-down notices to social media platforms and alerts of online misinformation attempts. Local Government Minister Darragh O’Brien, who is leading the reform efforts, has been quoted as stating:
Both the insidious and appalling invasions of Ukraine highlight fundamental threats to all democracies.
O’Brien also unveiled that his colleagues have already agreed to implement the stringent measures he is proposing in order to protect Ireland’s “democratic system given the escalating threat of cyber warfare targeting free countries.” The respective amendments to the political funding laws will be made through the Electoral Reform Bill 2022.
The new Electoral Commission of Ireland should be in place by this summer. It will have the responsibility of introducing guidelines for online political advertising. These include requirements that parties clearly disclose how their ads were funded as well as the audience they are targeting. Parties will be required to inform their leaders that they have adhered to these new regulations.
Before the Russian invasion, the Irish initiative to revise the political funding regulations was in place. In January, Darragh O’Brien asked Attorney General Paul Gallagher to establish a taskforce comprising legal experts and political scientists to examine the need for new election integrity laws. He was citing “serious concerns” over the deteriorating security situation in Eastern Europe and “well-documented escalation of cyberattacks on democratic states.”
Meanwhile, the cyberspace has become another battleground in Russia’s war with Ukraine with the two sides registering hacking attacks on government websites and databases. Moscow and Kyiv have both turned their attention towards cryptocurrencies. The Ukrainian government raised millions in cryptocurrency donations, while Russia sought to use crypto assets to avoid sanctions.
What do you think of other European nations adopting similar regulations on political crypto donation? Comment below.
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