The British government plans to impose restrictions on foreign funding of political parties. In particular, British politicians will be prohibited from accepting donations in cryptocurrency. These changes are expected to affect, among others, Nigel Farage’s right-wing populist party, Reform UK.
This was reported by Sky News.
Keir Starmer’s government intends to limit donations from British voters living abroad to 100,000 pounds sterling per year (115,000 euros).
In addition, a complete ban on cryptocurrency donations is being considered.
In this way, the British government is attempting to step up the fight against foreign interference following the release of a new report on the growing influence of such interference.
Former Home Secretary Philip Rycroft warned in his report of the threat of influence from hostile foreign states, such as Russia, China, and Iran. Additionally, Rycroft’s report mentions a “new threat” of interference in British politics from the United States, as both allies and adversaries seek to “interfere and pursue their own agendas.”
The restrictions proposed by the government are primarily aimed at Nigel Farage’s Reform UK party, which has received approximately £12 million over the past year from Thai investor Christopher Harborn.
This political party also receives the most donations in cryptocurrency, raising concerns about their transparency.
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