Labour MPs seek permanent ban on crypto political donations

A group of Labour MPs is preparing to push for a permanent legislative ban on cryptocurrency donations to political parties, aiming to transform a temporary government moratorium into law. The effort, led by Liam Byrne, chair of the business select committee, has gathered at least 20 signatures and will be debated as amendments to the Representation of the People Bill when it returns to the House of Commons on July 14.

The push follows intense scrutiny of the funding behind newer political parties, particularly Reform UK. That party has received millions of pounds in donations from individuals linked to the cryptocurrency industry, including approximately £15 million from Christopher Harborne and a separate £4 million contribution from Ben Delo, co-founder of BitMEX. While these specific donations were not made in cryptocurrency, the controversy has focused attention on the perceived risks of digital asset funding. Reform UK leader Nigel Farage is also under investigation by the Parliamentary Standards Commissioner for accepting a £5 million gift from Harborne. Farage has denied any wrongdoing and has triggered a byelection in his Clacton constituency, a contest major rival...