UK Electoral Commission ‘Updating’ Crypto Donation Guidance
The UK Electoral Commission is preparing to update its guidelines on cryptocurrency-based political donations after Reform UK, led by Nigel Farage, reportedly received the country’s first crypto donation to a major party. Though details such as the value and type of cryptocurrency remain undisclosed, no rules were broken, and the donation has not been officially declared. Current UK electoral law does not specifically address crypto donations; the main requirement is that the donor’s identity must be verified and the donor must be UK-based for donations over £500. Reform UK has actively engaged with the crypto sector, promising tax cuts for crypto gains and seeking industry support. While no laws prohibit crypto donations, concerns have been raised by campaigners about the risk of illicit funding, foreign interference, and the authorities' ability to prevent anonymous crypto donations. The government has stated plans to overhaul electoral law, including stricter donation oversight, with the Electoral Commission aiming to enhance transparency and rebuild voter trust through regulatory updates.
