UK Seeks to Cap Foreign Donations and Ban Crypto Contributions Amid Record-Breaking Reform UK Haul
The UK is considering a bill to cap foreign political donations and ban cryptocurrency contributions after Reform UK received a record-breaking £72 million from two cryptocurrency billionaires.
Ben Delo and Christopher Harborne, both British nationals who have spent years living abroad, donated £36 million each to Reform within two days in 2025, according to the Electoral Commission. This surpasses the previous record held by businessman John Sainsbury, who gave £10 million to the Conservative Party in 2023.
The Representation of the People Bill would cap donations from British citizens living overseas at £100,000 per year, effective March 25, and prohibit parties from accepting cryptocurrency as a donation. The bill has already cleared the House of Commons and is now being debated in the House of Lords.
Labour Minister Sharon Taylor argued that crypto assets pose a risk because they make it difficult to trace who is behind a donation, potentially allowing malign actors to obscure the origin of funds. Jonathan Evans, a nonpartisan lawmaker and former head of MI5, supported the ban, citing the need to prevent cybercriminals from using cryptocurrency for ransom payments.
Former Conservative Prime Minister Theresa May expressed concerns that the bill leaves a loophole, as it would bar crypto donations to parties but not individual candidates. Reform leader Nigel Farage argued that the donations broke no laws and warned of potential backlash if Labour presses ahead with retroactive restrictions.