Labour MPs push for permanent ban on crypto donations

Labour MPs seek a permanent ban on crypto donations to political parties, citing transparency and foreign influence concerns as part of broader UK campaign finance reforms.

Labour MPs are pushing for a permanent ban on cryptocurrency donations to UK political parties by proposing amendments to the Representation of the People Bill. This follows a temporary freeze on crypto donations introduced in March, driven by concerns over transparency and the influence of digital assets in political funding. The move comes as Reform UK’s finances face increased scrutiny, with notable contributions from crypto entrepreneurs—though not always in cryptocurrency. The proposed amendments also seek to lower campaign spending limits, tighten controls on party funds, and address risks of foreign influence. At least 20 Labour MPs have signed in support of these changes. As the bill returns to the House of Commons, the debate is expected to intensify, with Labour MPs arguing that digital currencies lack transparency and could undermine the integrity of democratic elections.