UK Labour MPs Push to Permanently Ban Crypto Donations; Campaign Spending Cap Cut to £24.4M

According to The Guardian, UK Labour MPs plan to propose four amendments to the People's Representitives Bill next week, aimed at tightening political funding reforms. The amendments include permanently banning cryptocurrency donations, lowering campaign spending caps from £34 million to £24.4 million, restricting initial funding for newly established parties, and requiring national security risk assessments for donations. The cross-party anti-corruption effort gained broad support following the Reform Party funding controversy involving multi-million-pound donations from crypto entrepreneur Christopher Harborne and suspicious transactions linked to George Cottrell that were reported to the National Crime Agency. Labour business committee chair Liam Byrne stated, "Every week reveals new disclosures showing the extreme measures Reform politicians take to evade financial oversight."
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