The UK is considering tightening political donation rules, potentially restricting crypto billionaires from funding British parties' reform.

BlockBeats News, July 6th, the UK government announced a new round of political donation reform, intending to extend the cap on overseas donations to £100,000 to donors in their first year of becoming UK residents, and raise the scrutiny standards for corporate political donations to further restrict foreign funding into UK politics. Building on the ban on cryptocurrency political donations in March this year, the new regulations are expected to be submitted to Parliament for final review next week.

Analysts believe that the new regulations may affect the political donation capability of major cryptocurrency industry supporters of the Reform UK party. Among them, investor Christopher Harborne, who holds about 12% of Tether's shares, has cumulatively donated around £12 million to the Reform UK party and has registered as a UK voter; BitMEX co-founder Ben Delo has donated around £4 million and has expressed plans to return to the UK to settle, during which time his political donations within a year of returning to the UK may be subject to the £100,000 cap.

Reports indicate that the relevant donations were not made in cryptocurrency form, and the Reform UK party stated that all donations comply with current regulations. Meanwhile, party leader Nigel Farage is facing further scrutiny for allegedly failing to report non-cash support provided by supporter George Cottrell.