New foreign donation rules could hit Reform UK’s crypto millionaire funders hard
New government rules designed to block foreign political donations and funding channeled through dubious companies could significantly impact Reform UK’s leading funders, it has been announced. Ministers have announced measures that include a £100,000 donation limit for people coming to the UK from abroad for one year after their arrival.
This new limit could affect cryptocurrency tycoons Christopher Harborne and Ben Delo, who have reportedly returned or plan to return to the UK. Both have previously donated millions to Nigel Farage’s party. The government introduced a £100,000 annual cap on overseas donations from 25 March; this limit will now be extended to cover the donor’s first year of residence in the UK.
Mr Harborne, a Thailand-based crypto billionaire, donated £3 million; this was the largest contribution Reform UK received between January and March 2026. He has since reportedly registered to vote in the UK. Electoral Commission figures also show that Ben Delo, another cryptocurrency mogul based in Hong Kong, donated £4 million, including £2 million to Reform in January and March.
Mr Delo has publicly stated his intention to return to Britain to contribute further to the Reformation, but new rules mean he will still be subject to the £100,000 limit for a year after his return.
Other changes to the Representation of the People Bill include a tougher assessment of corporate donations. These will now be assessed based on after-tax profits for the previous five years, rather than just revenue. This aims to ensure that only legitimate businesses with UK connections can make political contributions, preventing high-income firms with unclear operations from donating.
Additionally, people running in the election will need to prove the legitimacy of the funds they receive before officially becoming a candidate. Donations exceeding £2,230 received prior to formal nomination must be declared.
Communities Secretary Steve Reed commented: “British democracy is not for sale. These tough new rules will shut down dodgy funding, stop foreign money influencing our elections and keep our democracy strong. By holding overseas donors to tougher standards and requiring candidates to prove where their funds come from, we are taking pioneering action around the world to protect the integrity of our elections and combat the threats we face from abroad.”
The measures follow a review of political finance led by former senior civil servant Philip Rycroft. These will be included in the Representation of the People Bill, which will pass its final House of Commons stages on July 14 before moving to the House of Lords.
