In Brief
- Seven UK MPs call for a crypto donation ban in upcoming elections bill over transparency risks.
- Reform UK supports crypto donations and received £9M from a major digital asset investor.
- Bitcoin trades at $90.5K, down 2.41% weekly, showing minor weakness but stable price structure.
Seven senior UK lawmakers have formally urged Prime Minister Keir Starmer to prohibit cryptocurrency donations in political campaigns. The request targets an upcoming elections bill expected later this month, as MPs seek greater transparency in political funding.
The lawmakers, all Labour MPs who chair key parliamentary committees, argue that crypto donations obscure funding sources and raise interference risks. They also warned that digital assets enable micro donations that fall below disclosure limits, complicating enforcement and regulatory oversight.
The move increases pressure on the Labour government, which has already been reviewing the issue since mid-2025. Officials have acknowledged the complexity of verifying crypto donations but have yet to confirm whether a ban will be included.
The Electoral Commission previously raised concerns about current technology making it difficult to track the origin of digital assets. Advocacy groups echoed these warnings, citing the danger of foreign influence and misuse of anonymous crypto transfers.
Reform UK’s Pro-Crypto Stance Highlights Political Divide
Reform UK became the first British political party to accept crypto donations, marking a policy shift toward digital finance. Its website specifies that anonymous donations are not allowed, though scrutiny around crypto’s influence remains high.
The party received £9 million in fiat currency from crypto investor Christopher Harborne in December, the UK’s largest political gift by a living donor. Although the donation wasn’t in crypto, its source highlighted broader concerns over wealth tied to digital assets.
Lawmakers emphasized that UK politics must adapt to modern technology with real-world safeguards to protect democratic processes. Meanwhile, broader crypto regulations are moving forward, with new laws treating digital assets as property and more rules planned by 2027.
Bitcoin 24hr screenshot | Source: CoinMarketCapMeanwhile, Bitcoin is trading at $90,582.28, reflecting a 0.20% hourly dip and a 0.01% loss over 24 hours. Over the past week, BTC has declined 2.41%, indicating moderate selling but no major breakdown in structure.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/crypto-regulation/uk-lawmakers-urge-ban-on-crypto-donations/
