Rayner warns Reform’s £72m crypto windfall could be caught by new donor rules

Angela Rayner, the housing secretary, has cautioned Reform UK about potential repercussions for receiving a £72 million donation from cryptocurrency billionaires Ben Delo and Christopher Harborne. The donation, made within a single day, represents the largest individual contribution to a British political party on record. Rayner suggested that new restrictions on political donations from Britons living abroad or those who have recently returned to the UK could retroactively apply to these donations. These restrictions are part of a broader effort to close loopholes in election funding.

Both Delo, who has lived in Thailand for decades and holds Thai citizenship, and Harborne, who recently returned to the UK after living in Hong Kong, are British citizens eligible to donate. Reform UK maintains that all donations comply with Electoral Commission rules and UK law, and its Treasury spokesman Robert Jenrick stated that there is "no reason" to return the money, insisting that the donations are lawful under current and forthcoming legislation. However, the exact impact of the new rules on these donations remains uncertain.