The UK is reportedly considering a ban on political crypto donations as Reform UK tops the polls, raising questions about funding transparency and potential foreign influence.
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The United Kingdom is considering a ban on crypto donations to political parties, a move that would directly affect Reform UK and its leader, Nigel Farage, who have leaned into digital assets as part of a pitch for a crypto revolution in Britain, according to Politico.
The option is being discussed as part of an Elections Bill intended to bolster trust in politics, even though a ban was not included in an earlier policy paper, Politico on Tuesday, citing people familiar with the matter.
The report claimed that a government spokesperson did not deny that the plan is under review, saying further details will be set out in the bill.
Reform UK became the first party to this year. Speaking at the Bitcoin 2025 conference in Las Vegas in May, Farage announced that the group is accepting Bitcoin () and other cryptocurrency contributions from eligible donors. The party has since launched a portal for crypto gifts.
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Reform UK leads in polls
The move comes as Reform UK has into a clear polling lead, with the party sitting around 29% in the latest national averages, placing it ahead of both Labour and the Conservatives. The trend shows a steady rise through mid-2025 before stabilizing near the top, while Labour has slid to about 18% and the Conservatives to 17%, leaving the traditional two-party system fractured.
According to the Politico report, those urging action against crypto donations include former Cabinet Office Minister Pat McFadden, Business Committee Chair Liam Byrne, as well as Phil Brickell, who leads an all-party group on anti-corruption and fair tax.
The clampdown advocates say digital assets make it harder to trace the true source of funds, raising the risk that foreign money could slip through, alongside proceeds of crimes.
Related:
Ex-Reform UK leader jailed for pro-Russia advocacy
The debate has after Nathan Gill, the former head of Reform in Wales, was jailed last month for being paid to make pro-Russian statements in the European Parliament. Farage has Gill and rejected any link.
The Elections Bill is also expected to tighten rules on shell companies and unincorporated associations, and to require parties to keep risk assessments for donations that may pose a threat of foreign interference.
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