The Risks of Using Cryptocurrency in Political Financing And The Methods for its Prevention

Abstract

Regulating and monitoring political finances is an important factor in ensuring a fair and equitable electoral environment, but there are frequent cases of illegal finances, and in the modern world there is a tendency to use digital currencies, which are slowly entering political parties and making political finances monitoring impossible. The Relevant political finance regulations set standards for access to information, which make it possible to process the required information, to monitor it and achieve the transparency of information. Moreover, the Regulation and transparency of funding political processes are important to limit the means of gaining a power through anonymous and illegal sources. The appropriate measures of prevention and coercion serve this purpose in order to make political finances transparent through effective monitoring. Recently, a number of countries have faced the threat of receiving funding from the closed parties and the use of crypto currencies by political parties, and many have begun to think about introducing certain regulations to protect policies from digital currencies. Keywords: political party, political financing, political corruption, cryptocurrency, bitcoin.