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A group of Labor MPs is seeking a permanent ban on cryptocurrency donations to UK political parties and candidates.
The proposal would make permanent a temporary restriction proposed under the government’s election reform bill.
Byrne Amendment Would Ban Crypto Donations
Liam Byrne, Anneliese Dodds, Yuan Yang and Mark Sewards are backing amendments to the Representation of the People Bill ahead of its report stage in the House of Commons.
Byrne’s amendment would permanently prohibit political parties and candidates from accepting donations in cryptoassets. Parliament considered a similar proposal during the bill’s committee stage, but it was withdrawn after debate.
The government announced a moratorium on crypto political donations in March following an independent review led by former civil servant Philip Rycroft. The proposed restriction would apply retrospectively from March 25, 2026, if approved by Parliament.
MPs Cite Donor Verification Risks
Supporters of the ban argue that cryptoassets make it harder for political parties and regulators to confirm the original source of funds.
UK election law requires parties to check whether donors are permissible and report qualifying contributions to the Electoral Commission. Before the proposed moratorium, crypto donations were not specifically banned, but parties still had to verify donor permissibility.
Public blockchain records can track transfers between wallet addresses, but they do not always identify the people controlling those wallets. Privacy tools, offshore exchanges and transfers through multiple addresses can further complicate source-of-funds checks.
£7M Reform UK Donations Add Scrutiny
The renewed push follows scrutiny of large donations and financial support linked to figures in the crypto industry.
Reform UK received £3 million from crypto and aviation investor Christopher Harborne and £4 million from BitMEX co-founder Ben Delo during the first quarter of 2026, according to Electoral Commission figures cited in public reporting. Those were fiat donations, not direct crypto transfers.
Nigel Farage has also faced questions over benefits and financial support connected to Harborne and George Cottrell. Farage has denied wrongdoing.
Report Stage Will Decide Crypto Ban
The crypto ban is one of several proposed changes to the Representation of the People Bill. Dodds wants national campaign spending limits reduced by 15%, Yang is seeking stronger checks on initial funding used to establish political parties, and Sewards has proposed stricter “know your donor” requirements.
The government has not committed to accepting the amendments. A permanent crypto donation ban will depend on support during the bill’s remaining parliamentary stages.
