UK Reform Party leader Nigel Farage has rejected a request to disclose a £5 million personal gift from cryptocurrency investor Christopher Harborn, saying the payment fell outside parliamentary reporting obligations.
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Nigel Farage has said that a £5m gift from crypto investor Christopher Harbourne does not require parliamentary disclosure. Conservatives called on Parliamentary Standards Commissioner Daniel Greenberg to investigate whether the funds supported political activities.
Comments Mr Farage gave to broadcasters on Tuesday said legal advice his team had concluded there was “no obligation” to declare the payment because it was an “unconditional, non-political, personal gift”.
Mr Farage said the funding related to concerns for the safety of individuals who have had past threats against them, including an incendiary attack on their home, and said the funding would help ensure their long-term security.
Conservative Party officials then referred the matter to Parliamentary Standards Commissioner Daniel Greenberg, requesting an investigation into whether some of the £5 million may have indirectly supported political activity.
Mr Farage added that he would not appoint himself to the watchdog because there was “no case to answer”.
Labor Party chairwoman Anna Turley accused Mr Farage of appearing to have “broken the rules again”, but Reform UK said the payment was received in June 2024, before Mr Farage decided to stand as Mr Clacton’s party parliamentary candidate, and therefore was not subject to disclosure rules.
The dispute emerged weeks after news reports revealed that despite its size, the payment had not been declared under UK campaign finance rules.
Relationships with virtual currency donors come under new scrutiny
In remarks published by the Telegraph last week, Mr Harborn said he believed his donations had influenced the government’s decision to introduce restrictions on overseas political donations.
Mr Harborn told the newspaper he did not believe the government had the “right to stop me” and did not rule out returning to the UK to avoid future restrictions.
He also said he expected nothing in return for the £5m payment to Mr Farage other than to keep him safe, adding that the transfer was classified as “unconditional and irrevocable” in legal documents.
The controversy has led to increased scrutiny of Reform UK’s ties to crypto investors and digital asset businesses. In April, the Liberal Democrats asked the Financial Conduct Authority to investigate Mr Farage’s financial links to cryptocurrency firm StackBTC after he appeared in promotional materials related to the company’s Bitcoin financial strategy.
Liberal Democrat deputy leader Daisy Cooper said in a letter to the FCA that Mr Farage’s crypto activities raised questions about “market abuse and conflicts of interest”. Farage, through his media company Thorn in the Side, disclosed a $286,000 investment in StackBTC, giving him a 6.31% stake in the business, according to public filings.
Political pressure intensified over cryptocurrency-related fundraising after the Rycroft Review warned that digital asset donations could create risks related to foreign interference in UK elections. Last month, the UK government immediately suspended crypto donations to political parties while authorities prepare new rules on political fundraising.
Neither Mr Harborn’s donation to Reform UK nor the £5m payment to Mr Farage were made using cryptocurrencies.
