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Ireland's Political Parties to Be Banned From Accepting Crypto: Report
The move is being made to counter concerns over Russian interference in Irish elections.
Updated May 11, 2023, 6:28 p.m. Published Apr 19, 2022, 9:01 a.m.
Political parties in the Republic of Ireland will be banned from accepting donations in cryptocurrency, the Irish Independent reported Tuesday.
- The move is being made to counter concerns over Russian interference in Irish elections.
- Local Government Minister Darragh O'Brien, who is in charge of electoral reform, has written to party leaders detailing measures to combat potential foreign meddling in the country's democratic processes.
- “The appalling invasion of the Ukraine and insidious disinformation war highlight the ongoing fundamental threats faced by all democracies,” O'Brien said.
- Cryptocurrency donations are likely being targeted on concerns that crypto is used to short circuit sanctions, such as those placed on the majority of financial institutions linked to Russia and its allies.
- However, there remains little evidence that this is the case.
Read more: Ireland's Central Bank 'Highly Unlikely' to Allow Retail Investors to Hold Crypto
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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