UK Unveils New Election Funding Rules That Could Limit Reform's £12M+ Crypto Billionaire Donors

The UK government unveiled new election funding rules Monday that could squeeze crypto billionaires bankrolling Nigel Farage's Reform UK. The measures extend a £100,000 cap on overseas donations to cover a donor's first year of UK residency, preventing wealthy individuals from relocating to Britain and immediately making larger donations.

Christopher Harborne, a Tether stakeholder with a 12% holding, has donated £12 million to Reform UK and recently registered to vote in the UK. Ben Delo, co-founder of BitMEX exchange, donated £4 million and stated his intention to relocate to Britain—a move that would cap his donations at £100,000 for a year. The reforms build on a March ban on crypto donations and stricter tests for company donors.