Request for Temporary Ban on Crypto Donations in the UK

Matt Westerns letter to Steve Reed. Source: UK Parliament

Matt Westerns Detailed Proposals and Previous Demands

In January, MPs including Western had demanded a full ban, but the bill presented on February 12 did not include it. Western also proposed the use of FCA-registered crypto services under Electoral Commission guidance, banning mixers and donations from unknown sources, and converting crypto donations to fiat within 48 hours. In the long term, he recommended establishing a national police force to oversee political financing and checks on donors sources of wealth.

Reform UKs Bitcoin Acceptance and Increasing Risks

Reform UK was one of the first parties to begin accepting Bitcoin (BTC) detailed analysis last May. This step highlights BTCs role in the political arena while triggering concerns about foreign interference. The bill will go to second reading on March 2, with the general election not until 2029.

BTC Market: Current Price, Support and Resistance Levels

BTC PERP rose %8,40 from the low of 62.401 dollars, returning to the weekly positive zone. Current price 68.257 dollars (+%3,59 24h), RSI 43,12 (neutral), EMA 20: 69.273$. Supports: S1 68.012$ (strong, -0,36%), S2 64.323$ (-5,76%). Resistances: R1 68.714$ (+0,67%), R2 78.962$ (+15,68%). BTC futures giving downtrend signal.

Institutional BTC Usage and Global Context

GD Culture Group (GDC) announced it will use its 7.500 BTC reserve for share buybacks. This demonstrates BTC‘s institutional adoption while linking UK regulatory debates with global risks. UAE banks’ crypto assets are also increasing similar calls for oversight.