It comes after MPs were told to ban crypto donations and to cap expat donations to prevent foreign interference in British politics.
The Prime Minister has announced a temporary ban on cryptocurrency donations to political parties.
It comes after MPs were told to ban crypto donations and to cap expat donations to prevent foreign interference in British politics.
Pro-democracy campaigners and MPs have warned that crypto currency donations pose a risk to the integrity and transparency of our political system.
Their sources are often harder to trace, with the UK Government’s 2025 National Risk Assessment identifying cryptoassets as a growing risk to both money laundering and terrorist financing due “to the anonymity, speed, and…global reach of transactions”.
The findings came as part of an independent review into foreign financial influence which also found that Iran, Russia and China are trying to “cause harm” to the UK’s democracy.”
The ban on crypto donations will cause a headache for Nigel Farage, given that Reform accepted a Reform has also received £12m in political donations from the crypto billionaire Christopher Harborne and last year became the first main party in the UK to accept donations through bitcoin and other cryptocurrencies.
Sir Keir told MPs at PMQs that the report “sets out the stark threat posed by illicit finance.
“I can tell the House we will act decisively to protect our democracy, that will include a moratorium on all political donations made through cryptocurrencies. I hope that will be welcomed.”
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