Political parties in Ireland will no longer be able to receive cryptocurrency donations

Irish elections are to be protected from foreign intervention by new political integrity rules.

Ireland is going to make it illegal for political parties to accept crypto donations because of new rules on political integrity. On April 18, a report said that Irish Housing Minister Darragh O'Brien is the one who came up with these rules. These laws are meant to stop Russia from interfering in Irish elections.

They also say they want to make it more difficult for people from outside the country to donate money. In addition, they will make political parties give full information about their property portfolios. Under the new electoral law, the country would also set up the Electoral Commission, which would be in charge of making sure that Irish elections were safe.

Social media companies are said to be able to get take-down notices from this group. In addition, the Electoral Commission would be in charge of correcting any online misinformation.

O'Brien wrote to the leaders of the two main political parties and said that he would take a number of steps to make sure that foreigners didn't try to stop Irish votes.

He said that Russia's attack on Ukraine shows that all democracies face the same basic threats. Further, O'Brien said that the Cabinet has already agreed to the new rules, which would help protect Ireland from the growing threat of cyber warfare against free countries.

Among other things, O'Brien started his campaign to change the law in January and set up a task force to look into new election rules. The task force was made up of political scientists and legal experts. Its job was to give advice on how to build a legal and digital defense system to keep people from messing with the election.

The central bank in Ireland doesn't like cryptos, either.

This news comes as Ireland's central bank keeps taking a very negative stance toward crypto. There has been a lot of talk recently about how Irish people could lose all of their money if they invest in digital currencies.

A Central Bank of Ireland official, Derville Rowland, said, "We have to make sure that people are not getting scammed."

“While people may be attracted to these investments by the high returns advertised, the reality is that they carry significant risk. Before you buy crypto assets, you need to think about whether you can afford to lose all the money you invest. Do the promised fast or high returns seem too good to be true?”

If you want to invest in cryptoassets, you need to be careful. Gabriel Makhlouf, the Governor of the Central Bank of Ireland, said that he doesn't understand why anyone would do that.

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