UK Plans to Tighten Political Donation Rules, Potentially Impacting Reform UK's Crypto Tycoon Supporters

CoinFeed July 6 news, according to Decrypt, the UK government announced new rules to restrict foreign money from influencing elections, setting a £100,000 cap on political donations for residents in their first year moving to the UK, and requiring corporate donations to be reviewed based on after-tax profits over the past five years, while candidates must prove that their campaign funding sources are 'legitimate'. The new rules, building on a comprehensive ban on cryptocurrency donations in March, could squeeze funding for Reform UK, which relies on crypto tycoons Christopher Harborne and Ben Delo. Harborne holds about 12% equity in Tether and is already registered as a voter in the UK; Delo plans to return to the UK, but will be subject to the £100,000 cap on single donations within a year.