This Tuesday, the UK government's representation of the people bill returns to the House of Commons for its third reading.
The legislation includes measures such as extending the franchise to 16- and 17-year-olds and changes to voter registration.
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However, the furore around Nigel Farage and his wealthy associates has shifted focus to big-money donations.
The government has imposed a moratorium on political donations in cryptocurrencies, citing risks in identifying donors.
New limits include a £100,000 annual cap on donations from British citizens abroad and requirements for companies to prove profitability before donating.
Parliamentary candidates must declare donations above £2,230, though personal gifts remain exempt.
Labour backbenchers are pushing for stronger amendments.
Stella Creasy wants a universal cap at £100,000, while Liam Byrne proposes a permanent ban on crypto donations.
The Rise of Crypto High-Rollers
Farage's circle includes influential crypto investors like Christopher Harborne, who gave him a £5m personal gift and donated over £22m to Reform UK.
Harborne owns 12% of Tether, a stablecoin company that reported $10bn profits in 2025.
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Journalist Oliver Bullough describes Tether as “the most profitable company per-employee that there has ever been,” effectively acting as a private central bank.
Cryptocurrencies represent the next step in privatizing money, following electricity and water. Farage has urged London to embrace crypto, calling Tether a potential $500bn company.
Globally, crypto's political influence is immense.
Donald Trump raised over $1.4bn from crypto dealings in 2024, and the industry spent $245m on the 2024 US election, with $190m already allocated for 2025 midterms.
