British MP Nigel Farage faces investigation over accepting approximately $6.7 million in donations from Tether shareholders

BlockBeats message, May 14 — UK Reform Party leader and Member of Parliament Nigel Farage is facing a formal investigation by the Parliamentary Standards Commissioner, over failing to declare a personal gift of approximately $6.7 million from Thai billionaire Christopher Harborne. The gift was given before the 2024 general election. Farage said it was an “unconditional personal gift” for personal security and stated that he has conducted a comprehensive review from a legal perspective. However, under the House of Commons’ Code of Conduct, new MPs must register any registrable interests received within the 12 months before the election within one month after taking office.

Harborne is a shareholder in stablecoin giant Tether and has donated substantial sums to the UK Reform Party (including last year’s record-breaking £9 million), accounting for about two-thirds of the funding the party received last year. Harborne is also an active supporter of cryptocurrencies, and the UK Reform Party is the only major political party in the UK that accepts crypto donations. If found to have violated the rules, Farage could face penalties such as a written/verbal apology, suspension, or even expulsion from Parliament. As of now, neither side has responded further to the investigation.