UK Labour government proposes legislation to limit political donations following crypto-billionaire contributions

The UK Labour government is advancing legislation to restrict large political donations from wealthy individuals living abroad. This move follows reports that crypto billionaires Christopher Harborne and BitMEX co-founder Ben Delo donated a combined £72 million to Reform UK within two days. The proposed bill aims to cap annual donations from British citizens living overseas at £100,000, with potential retroactive application requiring non-compliant funds to be returned within 60 days. Reform UK maintains that the donations were legal and made without conditions.