WIREDGOV

The Joint Committee on National Security Strategy (JCNSS), as part of its Defending Democracy inquiry, has published a report on political finance and foreign interference in the UK which draws heavily on the work of RUSI’s Centre for Finance and Security (CFS).

The report highlights the scale and severity of foreign financial interference threats faced by the UK and recommends a series of responses. Its recommendations are likely to be considered as landmark electoral reform legislation is finalised by Parliament.

Significantly, the JCNSS recommends an immediate moratorium on crypto donations – endorsing research by RUSI’s Cryptocurrencies in UK Politics project – led by RUSI Research Fellow Eliza Lockhart and CFS Director Tom Keatinge – in concluding that a ban would create a false sense of security because it does not address the risks posed by crypto-enabled financial flows throughout the full payments chain.

Referencing evidence given by CFS Director Tom Keatinge, the committee instead calls for an immediate moratorium to pause the UK’s current exposure, while building the regulatory and enforcement capabilities needed to manage this risk before the next general election.

Click here for the full press release