Zero Hedge

UK Pushes Ahead With Temporary Ban On Political Crypto Donations

UK Pushes Ahead With Temporary Ban On Political Crypto Donations

Authored by Stephen Katte via CoinTelegraph.com,

The UK government is advancing plans for a moratorium on political donations made through cryptocurrencies, following an independent review and pressure from multiple high-ranking politicians.

Cointelegraph reported on Wednesday that the Rycroft Review, an independent inquiry into foreign financial interference in the UK’s political and electoral systems, recommended a moratorium on crypto donations to political parties.

New statements from UK Prime Minister Keir Starmer on Wednesday have confirmed that the government will pursue the temporary ban.

“I can tell the House we will act decisively to protect our democracy. That will include a moratorium on all political donations made through cryptocurrencies,” said Starmer during Prime Minister's Question Time on Wednesday.

Several members of parliament, including the chair of the security committee, have been pushing for a full ban this year, warning that foreign states could exploit crypto payments to influence UK politics.

UK Prime Minister Keir Starmer pledged a moratorium on all crypto political donations. Source: YouTube 

Under the new measure, crypto will be prohibited for political donations until robust regulations are in place to prevent untraceable funds and foreign interference in UK elections, according to a separate government statement on Wednesday.

Bill still has to pass and become law

The ban would require amending the Representation of the People Bill, and the government said the changes would take “retrospective effect” from March 25.

The legislation is at the committee stage in the House of Commons. It needs to pass through both the House of Commons and the House of Lords, then receive royal assent from King Charles III to become law.

The legislation is still at the committee stage in the House of Commons. Source: UK Parliament 

“Once the legislation comes into force, political parties and regulated entities like candidates and MPs will then have 30 days to return any unlawful donations they may have received in the interim, after which enforcement action can be taken,” the government said.

Reform UK was the first political party in the country to accept crypto donations in May last year, with leader Nigel Farage announcing at the Bitcoin 2025 conference in Las Vegas that the group would accept Bitcoin and other cryptocurrencies from eligible donors.

Ban will not be lifted until sign-off from government

Once the ban comes into force, it won’t lift until “Parliament and the Electoral Commission are satisfied that the regulatory environment is robust enough to ensure confidence and transparency in donations being made in this way.”

The next general election in the UK must be held by Aug. 15, 2029.

Tyler Durden Fri, 03/27/2026 - 06:30

EU Accuses Hungary Of 'Pro-Russian Espionage'

EU Accuses Hungary Of 'Pro-Russian Espionage'

Authored by Lucas Leiroz de Almeida via InfoBrics,

The rhetorical escalation between Budapest and Brussels continues to grow. Now, the EU accuses Hungary of actively sabotaging Europe by passing strategic information about the bloc to the Russian side. This type of serious accusation could never be made without proof, yet it has become common practice for the Western liberal regimes to accuse its rival countries of “collaborating with Russia” even without any evidence.

In a recent statement, the Hungarian Foreign Minister responded to recent European accusations of pro-Russian "espionage" by Hungarian authorities. According to the Hungarian minister, the EU is spreading lies and fake news about Hungary to try to influence the anti-Orban opposition, hoping to obtain a pro-EU result in the upcoming Hungarian elections.

Szijjarto's words were especially directed at Polish Prime Minister Donald Tusk, who had previously repeated rumors that Hungarian officials had informed Russia about sensitive details of the European bloc's meetings. Tusk acted extremely irresponsibly by spreading unconfirmed rumors on his social media – and even calling on the EU to take action against Hungary.

"The news that Orbán’s people inform Moscow about EU Council meetings in every detail shouldn’t come as a surprise to anyone. We’ve had our suspicions about that for a long time. That’s one reason why I take the floor only when strictly necessary and say just as much as necessary," Tusk said.

Szijjarto made it clear that Tusk's words are an attempt to provoke dissent in Hungary and mobilize the opposition against the government during the election period. However, he expressed optimism about the Hungarian government's ability to overcome these challenges, recalling that recent attempts by Brussels to defeat the pro-Orban coalition had failed due to strong popular support for the government.

“Instead of spreading lies and fake news, come to Budapest to support the opposition! Last time it worked… for us (...) You [Tusk] should come to Budapest before April 12 as well! Four years ago, you were the star speaker at the opposition rally, after which we won the elections by 20 percent. Think about it, Budapest is a great place to be,” he said.

Not only did Tusk spread such rumors about Hungary, but even major Western newspapers decided to spread these allegations, despite lacking any concrete evidence to support them. Politico, for example, published an article on the subject, citing various sources among European parliamentarians and officials, mentioning that the EU will take appropriate measures to prevent the leak of its data – including limiting the presence of Hungarian officials in secret meetings.

The sources told Politico that the case is not surprising, as Hungary and Russia have supposedly been "working together" for a long time to harm the EU. Szijjarto was described by the sources as a personal friend of Russian Foreign Minister Sergey Lavrov and as a "traitor" to his homeland.

“The fact that the Hungarian foreign minister, a close friend of [Russian Foreign Minister] Sergey Lavrov, has been reporting to the Russians practically minute by minute from every EU meeting is outright treason (...) This man has not only betrayed his own country, but Europe as well,” one of the sources told Politico.

It is absolutely reprehensible that this type of content is shared by the mainstream media. Respected newspapers should only share fact-based and verified content, not politically motivated and provocative rumors. Similarly, comments from sources whose sole purpose is to attack other European officials, without providing concrete evidence, should be removed by editors.

However, the mainstream Western media has a clear objective in the Hungarian elections: to help the opposition and create a political atmosphere hostile to Orban's team. Brussels and its allies, like Tusk, want to reverse the sovereign foreign policy established by the Orban government and induce Hungary to shift towards pro-Ukraine and anti-Russian tendencies. To this end, methods such as spreading lies to provoke the Hungarian electorate are being used.

It would be no surprise if Hungary suffered even harsher measures, such as a total ban from EU meetings or even sanctions. Despite the lack of evidence, Brussels has already made it clear that it opposes Orban and will do everything possible to overthrow him. There have already been direct threats of sanctions against Hungary on previous occasions, and it is possible that this will be repeated.

However, what will happen is the opposite of what European bureaucrats expect: the more threatened Hungary is, the more Eurosceptic and critical of Brussels' agendas it will become.

 

 

Tyler Durden Fri, 03/27/2026 - 05:00

Iran Conflict Drives Surge In China EV Demand

Iran Conflict Drives Surge In China EV Demand

A sharp rise in oil prices tied to the US-Israel confrontation with Iran is likely to speed up the global transition to electric vehicles, strengthening a shift that has already helped China overtake Japan as the world’s top car seller, according to South China Morning Post.

Crude prices have surged past $100 a barrel amid fears of disruption to energy supplies, particularly through the Strait of Hormuz. US President Donald Trump escalated tensions by warning he would “obliterate” Iran’s power plants if shipping through the strait was not restored within 48 hours.

Analysts say such risks could have a direct impact on consumer behavior. “The closure of the Strait of Hormuz could be a game-changer for EVs,” said David Brown of Wood Mackenzie. He noted that the recent “eye-watering” 50 per cent spike in oil prices would make electric vehicles more financially attractive. “In those countries with access to low-cost Chinese EVs, the competitive advantage over gasoline-engined cars will come even sooner.”

HSBC economist Justin Feng echoed that view, arguing that prolonged volatility in fuel markets would reinforce EVs as a clear “cost-savings proposition,” particularly across Asia where price sensitivity is high.

SCMP writes that the broader shift is already underway. The number of countries where EVs make up more than 10 per cent of car sales has risen dramatically in recent years, reaching 39 compared with just four in 2019. Adoption has been especially rapid in developing economies, in some cases outpacing wealthier nations.

China stands to benefit significantly from this trend. Its automakers became the world’s largest sellers of vehicles in 2025, ending Japan’s long-held dominance. Companies such as BYD and Geely have also moved ahead of Japanese rivals including Nissan and Honda, while Chinese brands now make up a growing share of the global top 20 by sales.

Exports have played a major role in that rise. China shipped 8.32 million vehicles overseas last year, a 30 per cent increase, with electric vehicles accounting for 2.32 million units, up 38 per cent. Europe remains the biggest market, followed by Southeast Asia, Latin America and the Middle East.

At the same time, higher energy costs could create complications for EV production in the near term. Manufacturing remains energy-intensive, leaving some countries exposed to rising fuel costs. Thailand, which relies heavily on energy imports from the Gulf, is particularly vulnerable.

China, however, is expected to be better positioned to absorb such shocks thanks to its more integrated supply chains and greater flexibility in energy sourcing, allowing its EV sector to continue expanding even amid global uncertainty.

Tyler Durden Fri, 03/27/2026 - 04:15

The German Bureaucratic Dream Of "Society with Bound Capital"

The German Bureaucratic Dream Of "Society with Bound Capital"

Submitted by Thomas Kolbe

They form a massive workforce, the last continuously growing sector of our society: civil servants.

Approximately 5.5 million employees work in the public sector, and last year alone, 205,000 new civil servants were added.

This is by no means a blind attack on the bureaucracy. Civil servants indispensable to our society work to maintain internal and external security and uphold the judiciary as guardians of law and order.

Yet the question must be allowed. How can a civil service army grow by over 200,000 in a single year, even as artificial intelligence and digital automation could handle repetitive tasks?

Across the country – it is an open secret that the public sector functions as a kind of safety net for slowly rising unemployment. Employees often tread on each other’s toes, paralyzed and bored by pseudo-tasks that the political apparatus spontaneously invents to feed its overflowing administration.

They have created a fantasy world. A world where budgets not only never run dry but are continuously expanded—producing what could be called a destructive life of its own. Bureaucracies, after all, are social organisms that fight to survive and strive for expansion.

There is a surplus of bureaucratic energy, combined with the drive to weave the still young ideology of green socialism into the state. This creates a dangerous mix of ideological messianism and administrative activism, which fools taxpayers into thinking something is being accomplished—even where tasks could clearly be automated and restraint would be better.

One of the newer ideas, traceable to the ministerial environment, is the creation of a new corporate legal form.

The debate surrounding the upcoming introduction of the Society with Bound Capital offers a deep insight into the ideological and intellectual status quo of the German civil service and state apparatus. The new legal form is intended to prevent profit distributions and redefine owners as a kind of participating activists.

In short: The basic rules of the market economy are being turned upside down. One could also see it this way: in the Society with Bound Capital, the typical bureaucrat’s desire for absolute stability and predictability crystallizes, freezing the status quo.

Economic resilience and adaptation within capital structures via free markets are mortal enemies of this ideology, which dangerously mixes socialist elements with green subsidy mania—what we know as eco-socialism.

No deeper sociological studies are needed to see who this corporate law targets. The gigantic green subsidy apparatus eagerly seeks to divert capital into an NGO-like structure.

It would expand the civil service into a state-tethered clientelism that relies on subsidies, grants, price guarantees, and a steady stream of tax money—supported by politically manipulated market structures that perpetuate themselves. For businesses, this effectively means slowed investment, stifled innovation, and severely reduced responsiveness to market and crisis shocks.

What the Ministry of Justice bureaucrats have painstakingly devised resembles a medieval fideicommissum, a type of noble inheritance trust. It is the antithesis of private property, contractual freedom, and all the civilizational achievements that have given us prosperity, security, and crisis resilience, allowing rapid response to external shocks through capital reallocation.

* * * 

About the author: Thomas Kolbe, a German graduate economist, has worked for over 25 years as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.

Tyler Durden Fri, 03/27/2026 - 03:30

Key Russian Baltic Oil Port Of Primorsk Resumes Loading After Ukraine Attack

Key Russian Baltic Oil Port Of Primorsk Resumes Loading After Ukraine Attack

Russia’s top oil port in the Baltic Sea, Primorsk, resumed loading days after it came under attack from Ukrainian drones, although Bloomberg notes that the company that pipes crude there said it is trying to divert barrels elsewhere because of the incidents.

The Minerva Georgia, a Suezmax-class vessel capable of hauling about 1 million barrels of crude, berthed on Wednesday. Another, the Anlan, is scheduled to depart Thursday having been there for several days.

Ukraine has stepped up attacks on Russian oil infrastructure to prevent Putin from benefiting from soaring prices. It also targeted the port of Ust-Luga this week, as well as the Kirishi oil refinery. Transneft, Russia’s pipeline operator, aims to divert flows away from the Baltic ports, Interfax reported.

Kiev’s moves seek to disrupt the flow of Russian petroleum at a time when the Iran war has already caused an unprecedented oil-supply shock. A Turkish oil tanker carrying Russian oil also came under drone attack in the Black Sea.

Tyler Durden Fri, 03/27/2026 - 02:45

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