The UK government is advancing a temporary ban on political donations made through cryptocurrencies. Prime Minister Keir Starmer confirmed the move, citing concerns over foreign influence and untraceable funds.
The Rycroft Review, an independent inquiry into foreign financial interference, recommended the moratorium. The ban would apply until robust regulations are in place to ensure transparency.
The legislation, part of the Representation of the People Bill, requires approval from both Houses of Parliament and the monarch. It would take effect retroactively from March 25.
Political parties and candidates would have 30 days to return any unlawful donations received during the interim period.
Reform UK was the first party to accept crypto donations in May 2025. The ban will remain in place until Parliament and the Electoral Commission confirm a secure regulatory environment.
The next general election must be held by August 15, 2029.
