Labour Rebels Plan Permanent Ban on Crypto Donations in UK

Labour MPs in the UK are planning to rebel against their own government's proposal for a temporary ban on crypto donations. They want to make it permanent, arguing that this would help safeguard UK democracy and prevent foreign money from influencing British politics.

One of the amendments they plan to introduce is led by Labour chair Liam Byrne, who claims that Reform UK politicians are willing to go 'extraordinary lengths' to avoid scrutiny of their finances. The amendment has at least 20 signatures and would replace the current moratorium on crypto donations with a permanent ban.

The push comes after multimillion-pound donations were made to Nigel Farage's Reform UK from crypto billionaires Christopher Harborne and Ben Delo. However, none of these donations were made in cryptocurrency.