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Parliamentary standards watchdog formally launched a probe into Nigel Farage over an undeclared \u00a35M gift tied to crypto donations.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n The investigation centers on a \u00a35 million payment Farage received from Christopher Harborne in early 2024, weeks before he reversed a public decision and announced his candidacy for the Clacton seat. <\/p>\n Harborne, who holds a 12% stake in stablecoin issuer Tether, has separately donated over \u00a322 million<\/a> to Reform UK since the party\u2019s founding, a total that makes him arguably the largest single financial backer of any British political party in recent memory.<\/p>\n Farage has maintained the \u00a35 million was a personal gift intended to cover lifetime security costs, citing a firebomb attack on his home, and that it falls under an exemption from disclosure rules. Reform UK described the payment as \u201cunconditional and irrevocable.\u201d Both the Conservative and Labour parties rejected the exemption argument and referred the matter to Commissioner Greenberg, who has now formally opened a full inquiry.<\/p>\n <\/p>\n The probe arrives seven weeks after Prime Minister Keir Starmer announced a moratorium<\/a> on political crypto donations, effective March 25, 2026. The measure followed the Rycroft Review\u2019s conclusion that digital assets posed a unique risk for foreign interference, given the difficulty in tracing the origin of funds across pseudonymous blockchain transactions. The ban is being written into the Representation of the People Bill with criminal penalties<\/a> for non-compliance once enacted.<\/p>\n\n\n
The ban that changed British political finance<\/h2>\n