UK political crypto donations banned by Starmer government

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email UK political crypto donations banned by Starmer government The government halted crypto political donations over concerns about foreign interference, as the Rycroft review warns that anonymity risks undermine democratic transparency. By Oliver Knight , AI Boost | Edited by Stephen Alpher Mar 25, 2026, 2:29 p.m. Make us preferred on Google UK Prime Minister Keir Starmer (Christopher Furlong/Getty Images) What to know : The U.K. government has imposed an immediate moratorium on crypto donations to political parties, citing risks of hidden foreign funding and weak traceability. The move follows the Rycroft review, which recommends a pause — not a permanent ban — while regulators develop stricter oversight rules. New reforms also cap overseas donations at £100,000 annually and will be embedded in legislation, raising the bar for reversing the policy. Led by Prime Minister Keir Starmer, the U.K. government has announced an immediate moratorium on cryptocurrency donations to political parties, citing concerns that digital assets could be used to hide the origins of foreign money in British politics, according to the Press Association . The move puts crypto at the centre of a wider crackdown on foreign interference, signaling that regulators are increasingly treating anonymous digital payments as a democratic risk rather than just a financial one. The ban, triggered by the government-commissioned Rycroft review, covers donations of any size and takes effect today. Parties have 30 days from now to return any crypto received once legislation is passed, after which criminal penalties apply. Overseas donations from British expats will also be capped at £100,000 a year. The review's author, former senior civil servant Philip Rycroft, stopped short of calling for a permanent ban — framing the moratorium as a pause for regulation to catch up with reality. But with the rules written into the Representation of the People Bill currently going through Parliament, the bar to lift them is high. "I wasn't here to look out for the interests of any political party," Rycroft said. "I was here to look out for the interest of our democratic processes." Members of Reform U.K., which currently leads polling data, walked out of Parliament during the announcement. Prime Minister Keir Starmer took a pointed swipe at Reform leader Nigel Farage, suggesting he would "say anything, no matter how divisive, if he is paid to do so." UK AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You Monument Bank to tokenize 250 million pounds of retail deposits in UK first By Francisco Rodrigues | Edited by Sheldon Reback 2 hours ago The deposits will remain interest-bearing, fully backed, and protected by the country's Financial Services Compensation Scheme. What to know : Monument Bank, a U.K. challenger bank, plans to tokenize up to 250 million pounds ($335 million) of retail customer deposits on the Midnight network, a public blockchain. The deposits will remain interest-bearing, fully backed, and protected by the U.K.'s Financial Services Compensation Scheme. The move could pave the way for... Read full story Latest Crypto News CoinDesk 20 performance update: Stellar (XLM) gains 6% as all constituents rise 1 hour ago Cipher Digital stock rises 9% on new data center deal with Hyperscale tenant 1 hour ago Monument Bank to tokenize 250 million pounds of retail deposits in UK first 2 hours ago Bitcoin’s refusal to fall signals crypto's underlying strength even as war risks linger 3 hours ago STS Digital unveils structured crypto platform with Kraken as distribution partner 3 hours ago Bitcoin nears $72,000 as rising open interest signals growing leverage in choppy market 3 hours ago Top Stories Gold’s longest losing streak in a century meets bitcoin’s resurgence 3 hours ago There's a huge $14 billion bitcoin options expiry this Friday and it points to $75,000 as price magnet 6 hours ago Circle stock plunges 20% as a new draft of the Clarity Act threatens stablecoin rewards 22 hours ago Ripple taps Singapore's central bank sandbox to test stablecoin-powered trade finance with RLUSD 9 hours ago Retail traders fare worse on prediction markets than sportsbooks 9 hours ago BlackRock sees AI driving crypto’s next bull phase as altcoin interest fades 18 hours ago