Overview
- Whitehall sources say ministers are preparing measures to outlaw cryptocurrency donations, though officials do not expect a workable ban to be ready for the imminent Elections Bill.
- The Elections Bill is still expected to tighten political finance rules with curbs on shell-company and unincorporated-association donations and requirements for parties to keep donor risk assessments.
- Reform UK has taken the first registered crypto donation in British politics and launched a donations portal it says applies enhanced checks.
- Electoral Commission chief Vijay Rangarajan has warned that establishing the real owners of wallets, especially overseas, can be resource-intensive and uncertain.
- Transparency advocates and senior MPs highlight risks from criminal proceeds and foreign actors, with Russia’s use of digital assets cited as a growing threat vector.