A U.K. parliamentary committee urged the government to impose “an immediate moratorium on crypto donations” until Parliament approves Electoral Commission statutory guidance.

In a report, the Joint Committee on the National Security Strategy said crypto poses an avoidable risk to political finance and public trust. The committee said rules should be ready before the next general election.

The reportnoted that the same traits that make crypto useful for fast payments also make it harder to monitor. It points to mixers, tumblers, privacy coins and chain hopping as tools that can blur the source of funds and warns that artificial intelligence tools could help split a large payment into many sub-500-pound ($668) donations, keeping each below the normal reporting threshold.

Crypto donations remain legal in the country, even though cryptoassets are treated as property rather than legal tender, the report adds. Reform UK, the party led by Nigel Farage that leads in national polls, is the first European political party to say it will accept crypto donations.

The total value of crypto donations Reform UK has received so far is unclear. Crypto investor Christopher Harbone has donated around $12 million in cash to the party.

Natasha Powell, crypto exchange Kraken’s chief compliance officer, told lawmakers that regulated exchanges can manage much of the danger. Still, the committee wasn’t convinced and said the current framework lacks the tools and staff needed to verify donors, trace funds and avoid abuse. As such, it wants the moratorium written into the Representation of the People Bill.

The report adds that a ban on direct crypto gifts would not close every gap. A donor could still cash out cryptocurrencies into sterling before sending money through the banking system.

The committee also wants the Electoral Commission to gain powers to compel information from banks, the tax authority and crypto platforms when it suspects impermissible activity, the report adds.

Senior Labour members of parliament earlier this year called on Prime Minister Keir Starmer to ban cryptocurrency donations to political parties, over concerns these could be used by hostile foreign entities to influence elections.

Today, the focus for FX traders is on the Federal Reserve: at 21:00 GMT+3, the FOMC will announce its interest rate decision (rates are expected to remain unchanged), followed by a press conference with Fed Chair Jerome Powell half an hour later.

In addition:
→ the Bank of Canada will announce its rate decision today;
→ similar events are scheduled tomorrow for the Bank of Japan, the Swiss National Bank, and the Bank of England.

As the DXY chart shows, the index is currently trading near the median of an upward channel that has remained in place since early February — a zone where supply and demand typically balance each other. However, incoming central bank announcements are likely to disrupt this equilibrium.

Technical Analysis of DXY

On the morning of 13 March, when analysing the DXY chart, we:
→ noted that the market appeared overbought, with price trading above the upper boundary of the channel;
→ suggested that a pullback could develop.

Indeed, subsequent price action showed signs of bearish pressure:
→ the formation of a “head and shoulders” (H&S) reversal pattern;
→ a bull trap above the psychological 100-point level.

It is reasonable to assume that the FX market is currently awaiting a crucial wave of fundamental information from central banks, which is particularly significant given ongoing geopolitical uncertainty. Traders should be prepared for increased volatility in the near term — the dollar index may move towards one of the channel boundaries depending on how the market reacts to upcoming news.

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Decentralized autonomous organization (DAO) governance platform Tally is shutting down after five years of operations, citing a lack of sustainable business models for governance tooling in the crypto market. 

Tally co-founder and CEO Dennison Bertram said the company will begin winding down at the end of March. He added that the company is not moving forward with a planned initial coin offering (ICO), concluding that it could not confidently deliver on the expectations that would come with selling tokens to investors. 

Tally’s closure comes despite years of activity on its platform, which supported governance for hundreds of organizations and processed more than $1 billion in payments, according to Bertram. At its peak, the company said it helped secure up to $80 billion in value and served more than 1 million users.

Tally launched in 2021 as a software platform for on-chain organizations. According to startup intelligence platform Tracxn, the company raised a total of $15.5 million across three funding rounds. 

Related: Vitalik Buterin proposes using AI to strengthen DAO governance

The shutdown reflects the challenges facing DAO-focused platforms after years of development and adoption. It highlights the pace of change in the industry, where even substantial achievements may prove insufficient to support a venture-backed business in DAO governance tooling.

Industry reflects on DAO challenges amid Tally shutdown

Following the announcement, builders and operators across the ecosystem pointed to a broader reassessment of DAO governance, with some describing Tally’s closure as part of a wider shift in how coordination tools are being developed and monetized. 

Oku Trade CEO Getty Hill said DAO development has not met the expectations set during earlier growth phases.

Related: DAOs may need to ditch decentralization to court institutions

“While stablecoins have achieved the greatest product-market fit in crypto, I still believe DAOs will ultimately get there, though maybe not for another 3-10 years,” he wrote. 

Meanwhile, Oasis Onchain founder Stefen Deleveaux described the shutdown as “the end of an era,” reflecting on a wave of early DAO tooling projects that emerged during the 2020–2021 cycle but struggled to sustain themselves over time.

Realms DAO chief technology officer Adrian Brzeziński pointed to the stats highlighted by Bertram, saying that the “hardest truth” in crypto infrastructure is that usage does not equate to revenue. “The next wave of governance won’t look like voting portals. It’ll look like capital coordination,” Brzeziński wrote. 

DAOs are “difficult” to operate

On March 11, Aave founder Stani Kulechov said DAOs, in their current form, are “extraordinarily difficult” to operate. He pointed to internal conflicts and proposals that can take weeks of forum posts, temperature checks and multiple votes to pass.