New political donation rules could scupper Reform hopes of more crypto millions

A new set of rules on political donations could put a spanner in Reform UK’s plans to keep raking in millions from their crypto billionaire backer.

Last week, it was revealed that Christopher Harborne – the man behind the single biggest donation by a living person in British political history, £9 million to Reform in August 2025 – had registered to vote in the UK.

The move appeared to be an effort to bypass a new measure limiting donations from Brits based abroad to £100,000.

Harborne has reportedly been based in Thailand for more than five years, holding Thai citizenship and using the name Chakrit Sakunkrit.

Last week, Reform leader Nigel Farage said the party would ‘gladly’ accept more cash from Harborne if it was offered, adding: ‘We’re very pleased he has re-registered back in the UK.’

However, new ‘safeguards’ announced by the government today would mean anyone who moves to the UK from overseas also faces a cap of £100,000 for at least a year.

The Ministry of Housing, Communities and Local Government said the change would stop people ‘being able to dodge the rules simply by registering to vote here’.

It is one of a raft of new measures that have followed from an independent review into foreign financial interference in UK politics by the civil servant Philip Rycroft.

They also include one requiring candidates to show that any money they received to fund a campaign before it officially kicked off came from a legitimate source.

Communities Secretary Steve Reed described the measures as ‘world-leading action’ which would ‘protect the integrity of our elections and tackle the threats we face from abroad’.

He said: ‘These tough new rules will shut down dodgy funding, stop foreign money influencing our elections and keep our democracy strong.’

The changes will be included as amendments to the Representation of the People Bill which is set to return to the House of Commons next week.

Reform UK leader Nigel Farage has faced questions over a £5 million payment given to him by Harborne in the January before the 2024 general election.

Farage has said the money was a ‘gift’ completely unrelated to his political activity – otherwise, he would have been required to formally declare it to the authorities following his election.

The Parliamentary Standards Commissioner is currently investigating whether any rules were broken when Farage – who was not leading Reform at the time he received the money – did not flag it.

Yesterday, the Sunday Times reported the Reform leader had failed to declare benefits provided by his friend George Cottrell, a 32-year-old aristocrat once convicted of fraud.

That accusation was strongly denied by the party’s Treasury spokesman Robert Jenrick, who told Sky News: ‘There’s no story here.’

Previously, the government also announced a complete ban on donations made in cryptocurrency – a key recommendation from the Rycroft Review.

Reform UK was the first major party in the UK to announce it would accept donations in cryptocurrency, in May 2024. No others have since done so.

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