Britain's political parties are demanding an urgent investigation into a record-breaking £9 million donation made to Reform UK by a cryptocurrency billionaire.
Record Donation Triggers Conflict of Interest Allegations
The Liberal Democrats and Labour have jointly called for the Electoral Commission to launch a formal probe. The controversy centres on a £9 million donation from Thai-based crypto billionaire Christopher Harborne, which is the largest single political donation ever made by a living person in the UK.
The situation escalated when Nigel Farage, the leader of Reform UK, publicly promoted Tether, a specific cryptocurrency in which Mr Harborne holds significant shares. This promotion occurred shortly after the multi-million pound donation was accepted, leading opposition figures to allege a potential conflict of interest and an abuse of public position.
Reform UK's Pro-Crypto Stance Under Scrutiny
Mr Farage had previously announced that his party would welcome donations made in cryptocurrency and has been a vocal advocate for deregulation within the crypto sector. He stated that Reform UK had already received 'a couple' of crypto assets prior to this major contribution.
However, this stance now faces intense scrutiny. The Electoral Commission has confirmed that no political party has officially registered cryptocurrency assets as donations, raising significant questions about the transparency and legality of such contributions within the current regulatory framework.
Mounting Pressure on the Electoral Watchdog
The calls for an investigation, made on Sunday 07 December 2025, place considerable pressure on the electoral watchdog to examine the intricate links between political fundraising and the largely unregulated world of digital currency.
This case highlights a growing tension between innovative political financing and established electoral law. The outcome of any investigation could set a major precedent for how cryptocurrency is treated in British politics, potentially leading to new regulations governing digital asset donations.
