Loading...
[UK Plans to Tighten Political Donation Rules, Potentially Impacting Reform UK's Crypto Wealthy Supporters] According to Decrypt, the UK government has announced new regulations to limit the influence of foreign funds on elections. These rules will impose a £100,000 cap on political donations from residents during their first year of moving to the UK and require corporate donations to be audited based on post-tax profits from the past five years. Candidates must also prove that their campaign funds come from 'legitimate' sources. Building on the full ban on cryptocurrency donations implemented in March, the new regulations may restrict Reform UK's funding sources, which rely on crypto billionaires Christopher Harborne and Ben Delo. Harborne holds approximately 12% equity in Tether and is already registered as a voter in the UK. Delo plans to return to the UK but will be subject to the £100,000 cap on single donations within a year.