Labour MPs in the United Kingdom are planning a parliamentary rebellion to permanently ban cryptocurrency donations to political parties, The Guardian reported. The move is part of a broader push to amend the Representation of the People Bill, with MPs from the cross-party anti-corruption group canvassing support for four key changes.
The most prominent amendment, spearheaded by Labour MP Liam Byrne, would replace the current moratorium on crypto donations—imposed in March—with a permanent legislative ban. Byrne argued that Reform UK politicians appear willing to go to “extraordinary lengths” to avoid financial scrutiny and urged colleagues to back the changes as a safeguard for UK democracy. By Thursday midday, the amendment had gathered at least 20 signatures.
The other amendments include a proposal by former cabinet minister Anneliese Dodds to cut campaign spending limits from £34 million to £24.4 million, warning of an “arms race in funding political campaigns.” Yuan Yang wants to cap how much money a new party can hold without declaring its source, after it emerged that Rupert Lowe’s Restore Britain launched with £2.5 million in undeclared funds. A fourth, from Mark Sewards, would introduce checks to prevent foreign interference through donations.
The push follows heavy scrutiny of Reform UK’s finances, including multimillion-pound donations from expat crypto billionaires Christopher Harborne and Ben Delo—though neither was made in crypto. Party leader Nigel Farage is under investigation by the Parliamentary Standards Commissioner over a £5 million gift from Harborne, accepted shortly before Farage announced his 2024 parliamentary run. The gift triggered a suspicious activity report from bankers unable to trace the ultimate origin of the funds.
The Rycroft Review, commissioned by the government, had earlier warned that the anonymity of digital-asset transfers could channel foreign money into British politics, leading to the temporary ban. However, author Philip Rycroft recommended a temporary “interlude” rather than an outright ban to allow regulation to develop. Campaigners, citing examples like Ireland and Brazil where full bans exist, have pushed for a permanent measure. Reform UK became the first major British party to accept crypto donations in June 2025.
The bill returns to the House of Commons on July 14, with ministers promising further government amendments, including a £100,000 cap on expat donations for the first year back in the UK. The crypto ban amendment appears to have broad Labour backing, making it a central flashpoint in the ongoing row over political funding transparency.
