UK Imposes Moratorium on Political Donations in Cryptocurrency
UK Prime Minister Keir Starmer has announced an immediate moratorium on cryptocurrency donations to political parties, following recommendations from the government-commissioned Rycroft review into foreign financial influence. The ban applies to donations of any amount and is retrospective from the date of announcement. Once legislation passes, parties must return any received crypto within 30 days or face criminal penalties. The upcoming Representation of the People Bill will include these rules. The review also advised capping annual overseas donations from UK citizens abroad at £100,000. So far, only Reform UK has accepted crypto donations, having received the UK’s first in October 2025. Reform UK’s leader, Nigel Farage, supports crypto-friendly policies and a national Bitcoin reserve. During the ban announcement, Reform UK members exited Parliament and Starmer criticized Farage’s stance. The review’s author, Philip Rycroft, clarified that the moratorium is temporary, allowing time for appropriate regulation and expertise to develop for the safe use of cryptoassets in politics.
