UK Government Halts Crypto Donations to Political Parties

The UK government has implemented an immediate ban on cryptocurrency donations to political parties and set a limit on annual political donations from British citizens living abroad at £100,000. According to NS3.AI, these measures took effect on March 25 and are being incorporated into the Representation of the People Bill with retrospective application. Political parties will have 30 days after the bill's passage to return any non-compliant donations. This decision follows the Rycroft Review and is in response to Christopher Harborne, who reportedly holds a 12% stake in Tether, having contributed over £24 million to Reform UK and its predecessor movements since 2019. The crypto donation moratorium is a temporary measure linked to future advancements in traceability and regulation.