The UK Labour Party plans to temporarily ban political donations in cryptocurrency, which may impact the funding sources of reform parties

The UK Labour Party has stated that it will implement a "temporary ban" on political groups accepting cryptocurrency donations until the relevant regulatory framework is improved to address the risks of foreign interference in elections.

This move is seen as potentially directly affecting the funding sources of the Reform Party. Previously, the party led by Nigel Farage had received significant donations from individuals in the cryptocurrency industry. The UK government stated that this measure aims to enhance the transparency of political funding and public trust, while the relevant ban will retroactively apply to cryptocurrency donations made from today onwards.