MEPs from MRF urge EC to consider regulatory framework to prevent party financing by dubious crypto companies

In a written question to the European Commission, MEPs Ilhan Kyuchyuk, Iskra Mihaylova and Atidze Aliyeva-Veli call for a common European regulatory framework to prevent the financing of political parties and entities by dubious crypto companies.

In the delegation's text, the MRF highlights the interest in the use of cryptocurrencies for political donations and the daily increase in the involvement of crypto companies in political campaigns.

In their letter to the European Commission, the three MRF MEPs express their suspicions about the circumvention of the law in cases where individual employees or executives of these companies make personal donations to a particular political party.

"This is also the case in Bulgaria, where, after a major international investigation, it was found that a crypto company involved in money laundering on a huge scale, including of Russian oligarchs and terrorist organisations, had financed a certain political party through its employees.

With such uncertainty and a rapidly developing crypto-industry, does the Commission foresee the creation of a common European regulatory framework to prevent the financing of political parties and entities by dubious crypto-companies?

How does the Commission intend to protect European democracy when representatives of political entities, through the receipt of funds from criminal organisations, are elected to leading positions, including in the European Parliament?" reads the text sent by the MRF delegation to the European Commission.