Reform UK has landed its biggest donation yet, after receiving £9 million ($12 million) from crypto investor and aviation businessman Christopher Harborne, according to newly released figures from the Electoral Commission.

The sum is now the largest single political donation ever made by a living person to a UK political party.

Harborne, a British investor living in Thailand, has long been active in UK political donations. He donated heavily to the Conservatives during Boris Johnson’s time in office and also supported the Brexit Party, which later became Reform UK, in both 2019 and 2020.

Two companies tied to him, AML Global and Sherriff Group, operate in the private aviation sector.

Harborne’s £9M donation Reshapes UK as Crypto Money Enters UK Politics

Harborne’s donation comes at a time when, as the next general election is not due until 2029, but local elections are scheduled for May. It also comes as Reform UK has remained at the top of several national opinion polls since the spring.

Harborne’s £9 million donation breaks the previous record of £8 million, which was set in 2019 by supermarket heir Lord David Sainsbury in support of the Liberal Democrats.

Separately, Lord John Sainsbury left £10 million to the Conservatives through his will in 2022.

Figures released by the UK Electoral Commission show that Reform UK raised more than £10.2 million between July and September, over twice the amount collected by the Conservatives in the same period, which brought in £4.6 million.

Labour brought in £2.1 million, and the Liberal Democrats reported £1 million. This makes it the first full quarter in which Reform will outpace Conservatives in fundraising since the general election in 2024.

Still, the longer-term numbers slightly favor the Conservatives, showing that since July 2024, they have raised around £14.4 million in total, compared with Reform’s £13.5 million.

Conservative leader Kemi Badenoch downplayed the impact of Harborne’s contribution, describing it as a “one-off” and insisting her party remains stronger when it comes to steady, repeat donors

Beyond fundraising, the donation has reignited debate around the role of cryptocurrency in UK politics.

In May, Reform leader Nigel Farage announced that the party would begin accepting Bitcoin donations, making it the first UK political party to do so.

The party later launched a dedicated digital donation portal and confirmed that it had already received a small number of crypto contributions, the first recorded instance of such donations in British political history.

Foreign Influence Fears Drive UK Review of Crypto Political Funding

That decision is now under increasing political scrutiny. The UK government says it’s now looking into whether cryptocurrency donations should be blocked entirely for political parties.

While no formal proposal has been confirmed, officials say discussions are underway across Whitehall about it, driven by rising concerns over transparency and the risk of foreign interference in British politics.

Additionally, security specialists caution that while blockchain records are public, the real origin of funds can still be obscured through layered wallets, intermediaries, and offshore structures.

The debate gained urgency after former Reform Wales leader Nathan Gill was convicted and sentenced to over 10 years in prison for accepting payments to push pro-Russian narratives while serving as a Member of the European Parliament.

The Ministry of Housing, Communities and Local Government, which is leading work on the Elections Bill, has also warned that existing rules leave the political system exposed to covert foreign influence.

Proposed changes are expected to focus on donations funneled through shell companies and to introduce stricter risk checks for politically sensitive contributions.

The discussion unfolds as the UK moves ahead with its wider digital asset rules. On December 3, Parliament passed a law recognizing cryptocurrencies and stablecoins as legal property for the first time under UK law.

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The British government is weighing plans to ban cryptocurrency donations to political parties, a development that could hit Nigel Farage’s Reform UK just months after it became the first party in the country to accept digital assets.

The proposal, now under active discussion inside Whitehall, is being considered as part of the forthcoming Elections Bill, according to multiple people familiar with the talks.

Although the government did not confirm the plan outright, it said more details would be set out when the bill is published.

Calls Grow to Restrict Digital Asset Contributions to UK Political Parties

The possibility of a prohibition comes as Reform UK continues to position itself as the most crypto-friendly political force in the country.

Earlier this year, Farage opened the door to digital asset contributions and launched a dedicated donations portal.

He has described the move as part of a broader “crypto revolution” in Britain and has repeatedly told industry audiences that he is the “only hope” for UK crypto businesses.

In October, he told Reuters the party had already received “a couple” of crypto donations after notifying the Electoral Commission, showing the first time such a contribution had ever been recorded in British politics.

For now, the value of those donations has not been disclosed. The debate over crypto political financing has also grown more intense as Reform surges in national polls and the Labour government faces mounting questions about foreign interference.

Transparency experts have warned that digital assets, while publicly traceable on-chain, can mask the true origin of funds when moved through multiple wallets.

Tom Keatinge, director at RUSI, noted that crypto transfers allow money to cross borders into the UK “much easier” than through traditional banking, raising concerns about illicit financing, especially under a system that already bans foreign political donations in almost all circumstances.

Calls for stricter oversight have come from multiple quarters, including former Cabinet Office Minister Pat McFadden, Business Select Committee Chair Liam Byrne, and Phil Brickell, chair of the All-Party Parliamentary Group on Anti-Corruption and Fair Tax.

Lawmakers have argued that existing regulations are insufficient to prevent misuse of cryptocurrency in political donations, noting the potential for anonymity and the difficulty in tracing the original source of funds.

High-Profile MEP Case Sparks Calls for Tighter Electoral Finance Rules in UK

Their warnings have been amplified by recent national security concerns, particularly after former Reform Wales leader Nathan Gill was jailed for more than ten years for accepting payments to make pro-Russian statements while serving as an MEP.

Farage has distanced himself from Gill, calling him a “bad apple,” but the case has intensified calls for tougher rules on political funding.

The Ministry of Housing, Communities and Local Government, responsible for the Elections Bill, stated that the political finance system inherited by the U.K. had left democracy vulnerable to foreign influence.

Officials emphasized that new rules, including those potentially targeting crypto donations, would aim to protect electoral integrity while allowing parties to fund their campaigns responsibly.

The Elections Bill is expected to include new requirements for parties and donors, including restrictions on shell-company contributions and mandatory risk assessments for donations that could expose campaigns to foreign interference.

The UK’s caution stands in sharp contrast to the United States, where digital asset donations have become a major force in federal elections.

American crypto-backed PACs poured more than $190 million into the 2024 cycle, aided by clear reporting rules under the Federal Election Commission.

In Britain, crypto’s political footprint remains minimal. No major party mentioned digital assets in its manifesto during the 2024 general election, and the total number of reported crypto donations remains close to zero.

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