UK government targets crypto donations amid Farage funding controversy
7 reported1 unconfirmed
The UK government's representation of the people bill, returning to the House of Commons for its third reading, includes measures focused on big-money political donations following controversy around Nigel Farage and his associates. The government has implemented a moratorium on political donations in cryptocurrencies, which the Electoral Commission says present challenges in identifying donors. New amendments include an annual £100,000 limit on donations from British citizens living abroad, checks on company donations based on profit and revenue, and a requirement for candidates to declare donations above £2,230, though personal gifts remain exempt. Labour backbenchers are reportedly preparing stronger amendments, including a universal cap and a permanent ban on crypto donations. The article, a Guardian opinion piece by John Harris, discusses the broader context of crypto investors and rightwing politicians, noting that Donald Trump raised over $1.4bn from crypto dealings last year and that the crypto industry spent more than $245m in the 2024 US election cycle. It also mentions that Ben Delo, co-founder of BitMex, made a £4m donation to Reform UK earlier this year.
What’s reported
The government's representation of the people bill includes a moratorium on political donations in cryptocurrencies.
New amendments include a £100,000 annual limit on donations from British citizens living abroad and a requirement for candidates to declare donations above £2,230.
Labour backbenchers Stella Creasy wants a universal cap at £100,000, while Liam Byrne proposes a permanent ban on crypto donations.
Christopher Harborne gave Nigel Farage a £5m personal gift and donated over £22m to Reform UK.
Donald Trump raised more than $1.4bn from crypto dealings last year.
The crypto industry spent over $245m in the 2024 US election cycle and around $190m to influence the 2026 midterm elections.
Ben Delo made a £4m donation to Reform UK earlier this year.
Open questions
The article does not specify the outcome of the bill's third reading or whether the proposed amendments will pass.
Key figures
Nigel Farage, Reform UK leader
Christopher Harborne, Thailand-based crypto investor
Stella Creasy, Labour backbencher
Liam Byrne, Birmingham MP and Labour chair of the business select committee
Oliver Bullough, writer and journalist
Donald Trump, former US president
Ben Delo, co-founder of BitMex
George Cottrell, Farage's de facto chief of staff
Sources: The Guardian
