UK Labour MPs push to ban crypto political donations

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UK Labour crypto donation ban

Highlights

Labour MPs led by Liam Byrne seek amendments to the Representation of the People Bill to permanently ban political donations in crypto assets.
At least 20 MPs have signed in support of the proposed ban, with the bill scheduled for a report stage in the House of Commons next Tuesday.
Scrutiny of Nigel Farage over a £5 million crypto-linked payment intensifies the debate over transparency and risks in UK political donations.

Bill amendments gather parliamentary backing

As reported by The Block, citing The Guardian, Labour MPs led by Liam Byrne are gathering support for amendments to the Representation of the People Bill, a key measure covering voting and political finance rules. The proposed revisions would permanently prohibit political parties and candidates from taking donations in crypto assets, according to the bill description on the UK Parliament website.

Byrne says the changes are needed because lawmakers cannot allow existing safeguards to be weakened further. He says the purpose of the new clause is to reduce the risks of anonymous and impermissible donations, and the amendments have reportedly secured at least 20 signatures by midday Thursday.

The bill is set to reach its report stage in the House of Commons next Tuesday, giving the proposal a near-term parliamentary test as support is assembled inside Labour ranks and beyond.

Scrutiny of Farage sharpens donation debate

The push for a permanent ban comes amid continuing scrutiny surrounding Reform UK leader Nigel Farage, who resigned as MP for Clacton earlier this week. Farage is facing parliamentary investigations into crypto-linked donations, keeping the issue of traceability and political funding standards in focus.

Farage maintains that the 5 million pound sum was a private, non-political gift received before he became an MP. He says he has done nothing wrong, has not broken the law and has not misused public money.

The move highlights growing concern in the UK political system over whether digital assets create additional risks for transparency, donor verification and enforcement in campaign finance.

Our earlier coverage of the Metropolitan Police probe into Reform UK donations outlined how investigators were examining large pre-election contributions and potential breaches of UK donation rules, alongside questions about donor identity and declarations. We also noted the widening scrutiny around Nigel Farage’s finances, including an undeclared £5 million gift linked to a crypto billionaire and other alleged benefits in kind, keeping transparency and enforcement in political funding under the spotlight.

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