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Saved February 14, 2026
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Seven UK parliamentary committee chairs have called for a ban on cryptocurrency donations to political parties, citing concerns over transparency and foreign interference. This initiative adds pressure on the Labour government, which has been considering similar restrictions due to difficulties in verifying the source of crypto funds.
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Seven chairs of parliamentary committees in the UK have urged the government to ban cryptocurrency donations to political parties. This push comes amid ongoing concerns that crypto contributions can obscure the source of funds and facilitate foreign interference in British politics. Liam Byrne, chair of the business and trade select committee, emphasized that the current technology makes it challenging to manage these risks effectively.
The Labour government has been contemplating a ban since mid-2025 but has hesitated due to implementation complexities. In contrast, Reform UK, led by Nigel Farage, has embraced crypto donations as part of its strategy, claiming to be the first UK party to accept them. A significant ยฃ9 million donation from Christopher Harborne, a crypto investor, heightened scrutiny on the issue. While the donation was in fiat currency, Harborne's wealth is largely tied to cryptocurrencies, prompting calls from Labour and the Liberal Democrats for further investigations.
As the UK refines its cryptocurrency regulatory framework, including recognizing digital assets as property, the proposed donation restrictions would diverge from the more permissive stance seen in the US, where crypto political action committees spent over $190 million in the last election cycle. No federal ban on crypto donations exists in the US, although some states have implemented their own restrictions.
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