The UK government has announced new regulations to curb foreign influence in elections, including a £100,000 cap on political donations from new residents within their first year in the country. Additionally, corporate donations will be scrutinized against after-tax profits from the past five years, and candidates must verify the legitimacy of their pre-campaign funding sources. These measures build on a previous ban on cryptocurrency donations introduced in March.
The new rules could impact Reform UK, which counts on support from crypto tycoons Christopher Harborne and Ben Delo. Harborne, who holds approximately 12% of Tether's equity, is registered as a UK voter, while Delo plans to return to the UK. However, any single donation from them within a year would now be limited to £100,000. Notably, their past contributions were not made in cryptocurrency.
UK Tightens Political Donation Rules, Affecting Crypto Tycoons
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