Labour MPs Push to Ban Crypto Donations to UK Political Parties

Five separate groups of Labour MPs are backing amendments to the Representation of the People Bill that would bar UK political parties and candidates from accepting crypto donations. The provisions, which would make the ban permanent, are scheduled for debate at the bill's report stage Tuesday.

The lead amendment was tabled Monday by Liam Byrne, the Labour MP for Birmingham Hodge Hill and chair of the parliamentary committee on standards. Eight other Labour MPs have signed versions with identical effect. Together the amendments would close what supporters call a loophole in the 2000 Political Parties, Elections and Referendums Act, which currently treats crypto donations like any other property contribution subject to the £500 reporting threshold.

Byrne told colleagues the change is needed because crypto's cross-border nature makes donor verification nearly impossible. "We simply cannot afford to let our crumbling defences be undermined any further," he said Wednesday, in remarks circulated alongside the amendment text.

The push follows disclosures about Reform UK leader Nigel Farage's finances. Last month the Daily Mail reported that Farage received a £5 million gift from Christopher Harborne, a British-Thai investor with ties to crypto platforms. The transaction triggered a Suspicious Activity Report filing with the National Crime Agency, according to a person familiar with the matter. Farage said the money was a private loan and denied any wrongdoing. "Let me be absolutely clear: I have done nothing wrong," he told the BBC.