UK Labour MPs Push for Permanent Crypto Donation Ban After Farage Resignation
Labour MPs want permanent rules after reports of a $6.7 million gift and other support linked to Reform leader Nigel Farage.
- Labour MPs are seeking to make a temporary March moratorium on digital asset donations permanent, aiming to strengthen safeguards against wealthy donor influence, Labour MP Liam Byrne said Thursday.
- This push follows Reform leader Nigel Farage's resignation as MP for Clacton on Tuesday, triggered by reports of a $6.7 million "gift" from crypto billionaire Christopher Harborne and undisclosed support from George Cottrell.
- Farage claimed he had "done nothing wrong" and announced he would contest the by-election, though Labour, Conservatives, Liberal Democrats, and Greens will reportedly not field candidates in Clacton.
- Alongside these legislative debates, the Labour Party is selecting a successor following Prime Minister Keir Starmer's resignation, with former Manchester mayor Andy Burnham expected to secure the leadership.
- If elected, Burnham could influence decisions on the proposed crypto donation ban and the Financial Conduct Authority's digital asset oversight, having previously advocated for Manchester to be a "Web3 powerhouse.
14 Articles
14 Articles
UK Labour MPs push for permanent crypto donation ban after Farage resignation
UK Labour MPs have proposed making a temporary ban on cryptocurrency donations to political parties permanent after Nigel Farage resigned amid investigations into multimillion-pound gifts linked to crypto industry figures. The Guardian reported on Thursday that members of the ruling…
UK Government Tables a Crypto Political Donation Ban as MPs Push to Toughen It
The British government has moved to write a ban on cryptocurrency political donations into law, tabling an amendment ahead of a Commons debate next week, as Labour backbenchers press for even tougher rules amid a funding scandal around Nigel Farage’s Reform UK. The amendment, put forward by Housing Secretary Steve Reed for the report stage of the representation of the people bill on July 14, would treat any crypto donation to a registered party …
UK Politicians Considering Permanent Crypto Donation Ban Amid Nigel Farage Scandal
Labour MPs are calling for a March moratorium on crypto donations to be made permanent with reports of hundreds of millions of dollars pouring into contributions to UK candidate and parties.
UK Labour MPs Rebel Over Funding Reforms, Seek Crypto Ban
Labour MPs seek a permanent crypto donation ban to replace the temporary moratorium. Proposed reforms would cut campaign spending limits from £34 million to £24.4 million. Farage’s £5 million private gift has intensified scrutiny of crypto-linked political funds. UK Labour MPs are preparing to challenge the government’s funding reforms by demanding a permanent ban on cryptocurrency donations. Their proposal would replace the temporary moratorium…
UK Parliament Debates Permanent Ban on Crypto Donations
TLDR UK Labour MPs are pushing amendments to permanently ban crypto donations in political funding. The proposal targets risks linked to anonymous and impermissible financial contributions. Liam Byrne is leading the effort to tighten rules under the Representation of the People Bill. The amendments had gathered at least 20 parliamentary signatures by Thursday. The bill will reach its report stage in the House of Commons next Tuesday. UK Labour …
Labour MPs Push To Permanently Ban Crypto Political Donations In The UK
A group of Labour MPs is pushing to make the UK’s temporary prohibition on crypto political donations permanent through amendments to the Representation of the People Bill. The proposal would stop political parties, candidates and regulated campaign recipients from accepting donations made with cryptoassets or proceeds generated from digital assets. It also treats donations routed through crypto exchanges or custodian wallet providers as coming …
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