UK Govt Considers Crypto Ban for Political Donations

The British government is considering banning cryptocurrency donations to political parties, placing focus on Nigel Farage's Reform UK. In 2025, Reform became the first party in Britain to accept digital-asset contributions as part of a "crypto revolution" initiative.

Reform UK has received several crypto donations after registering the first such contribution in British politics.
The proposed Elections Bill may include a ban on digital asset donations due to transparency concerns.
Reform UK has embraced crypto, launching a donations portal and promising enhanced screening mechanisms.
Nigel Farage, likened to US President Trump, supports digital assets and claims long-term positions in them.
Calls for stricter rules have been made by political figures to prevent illicit use of crypto in politics.

UK's New Crypto Reporting Rules

Starting January 1, 2026, cryptocurrency traders in the UK must disclose personal information to exchanges under the Cryptoasset Reporting Framework.
Exchanges are required to provide HMRC with customer details, transaction histories, and tax reference numbers.
The measures aim to generate up to $415 million in tax revenue by 2030.