UK imposes crypto donation moratorium after Tether-linked donor gave more than £24M to Reform UK

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The UK government imposed an immediate moratorium on all crypto donations to political parties and capped annual political donations from British citizens abroad at £100,000. The measures took effect from March 25 and are being written into the Representation of the People Bill with retrospective effect, with parties getting 30 days after passage to return non-compliant donations. The move followed the Rycroft Review and comes after Christopher Harborne, who reportedly controls a 12% stake in Tether, directed more than £24 million to Reform UK and its predecessor movements since 2019. The crypto moratorium is a holding measure that the government tied to future progress on traceability and regulation.

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