The UK elections regulator is weighing whether to launch a probe after The Guardian revealed that crypto billionaire Christopher Harborne gave Nigel Farage a £5m personal gift shortly before the Reform UK leader announced he would stand as an MP.
In a written reply to the Conservative party, the Electoral Commission said it was “aware of this matter and are considering it under our regulatory remit. We will consider all the available relevant information and recommend what, if any, next steps the commission will take.” The commission has told the Tories it will respond by 12 May, after next week’s elections in Scotland, Wales and parts of England.
The gift was reportedly given while Harborne, who is based in Thailand, was a private donor to Farage. Reform UK says the money was an “unconditional gift” to Farage — then the party’s honorary president who, the party says, had not publicly committed to standing for parliament — and that he used the funds for security arrangements. Farage had earlier said he did not intend to stand as an MP but reversed that position in June 2024; he became an MP for the first time in July 2024 and has since said he expects to be prime minister at the next general election.
The Conservative party has argued the gift should have been declared to the Electoral Commission “at the time as a regulated donee.” They have also written to the parliamentary commissioner for standards, Daniel Greenberg, alleging Farage breached the Commons code of conduct by “failing to register a political donation.”
Parliamentary disclosure rules require benefits received within 12 months before taking office to be declared, depending on whether they are for political or personal purposes; the guidance adds: “If there is any doubt, the benefit should be registered.”
Kevin Hollinrake, the Conservative party chair, accused Farage and Reform UK of flouting the rules. “This £5m from the crypto billionaire Christopher Harborne raises serious questions,” he said. “What is Nigel Farage hiding? And why does Reform think the rules don’t apply to them? This stinks and Reform should come clean now.”
The case puts another spotlight on large crypto-linked donations and the transparency of political funding, as regulators consider whether the payment should have been declared and whether further action is warranted.
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