A cross-party parliamentary committee in the United Kingdom has urged the government to impose an immediate moratorium on cryptocurrency donations to political parties.
In a report published Wednesday, the Joint Committee on the National Security Strategy said the government should amend the Representation of the People Bill until stronger safeguards are in place.
The recommendation comes amid rising scrutiny of crypto-linked money in British politics. Nigel Farage's Reform UK became the first party to start accepting crypto donations in 2025. Reform UK recently disclosed a $4 million donation from crypto investor Christopher Harborne following a record $12 million gift.
Committee chair Matt Western warned that current rules pose an unnecessary risk to democratic integrity. Lawmakers propose lowering the declaration threshold and increasing sentences for foreign financing wrongdoing to protect against state interference.