The UK government has imposed an immediate moratorium on cryptocurrency donations to political parties following an independent review into foreign election interference. The ban, triggered by the Rycroft review, applies to any size donation and will be enforced through the Representation of the People Bill. Parties will have 30 days to return any crypto received after the legislation passes, with criminal penalties applying thereafter. The review also recommended capping overseas donations from British expats on the electoral register at approximately $127,000 per year.
UK Prime Minister Keir Starmer announced an immediate moratorium on cryptocurrency donations to political parties. This action follows the government-commissioned Rycroft review into countering foreign financial influence.
The ban covers donations of any size and will be applied retrospectively. Political parties will have 30 days to return any cryptocurrency received once the legislation is passed.
After this grace period, criminal penalties will apply for non-compliance. The review also recommended that overseas donations from UK citizens living abroad be capped at approximately $127,000 annually.
To date, the only major UK political party to accept cryptocurrency donations is Reform UK. The party reportedly received the country’s first crypto donation in October 2025.
Reform UK leader Nigel Farage has positioned himself as a champion for cryptocurrency. He has called for lower capital gains taxes on crypto and for a national Bitcoin reserve.
Members of Reform UK reportedly walked out of Parliament during the ban’s announcement. Starmer aimed a pointed barb at Farage, suggesting there is “only one party leader who has shown he will say anything, no matter how divisive, if he is paid to do so.”
Philip Rycroft, author of the review, did not call for a permanent ban on crypto donations. He wrote that the moratorium “should not be seen as a prelude to an outright and permanent ban,” but as an interlude for regulations to develop.
