Chairs of various UK parliamentary committees are pushing for a ban on cryptocurrency political donations, putting pressure on the Labour government.
PANews reported on January 12th that, according to The Block, the chairs of seven UK Parliament select committees wrote to the British government on Sunday urging a complete ban on cryptocurrency donations to political parties, exacerbating months of debate surrounding digital assets in British electoral politics. The letter, co-signed by Liam Byrne, chair of the Business and Trade Select Committee, and six other colleagues, stated that cryptocurrency donations undermine transparency, traceability, and enforcement in political funding. Liam Byrne stated, “Cryptocurrencies could obscure the true source of funds, enabling numerous small donations below the disclosure threshold and exposing British politics to foreign interference. The Electoral Commission has warned that managing these risks is exceptionally difficult with current technology.”
This move adds pressure to the Labour government, which has been considering banning cryptocurrency political donations since at least July 2025. Reform UK became the first political party in the UK to accept cryptocurrency donations in May 2025, and any ban would have a direct impact on it, although the £9 million donation the party received from cryptocurrency investor Christopher Harborne was in fiat currency.
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