Nigel Farage is under pressure over cryptocurrency links to Reform UK amid accusations he may have abused his power as an MP.
Article continues below
The Electoral Commission has been asked to investigate the situation after the party declared a £9million donation – the biggest single donation in history – from crypto investor Christopher Harborne in August.
Article continues below
The Liberal Democrats this weekend raised concerns over a conflict of interest after Mr Farage name-dropped cryptocurrency Tether in a radio interview in September. Mr Harborne reportedly controls up to 12% of the shares of the company behind Tether.
The Lib Dems have called for the Electoral Commission to open a probe into whether there is a “potential conflict of interest” involving Mr Farage and Tether, given the record donation Reform had just received from Mr Harborne.
Lib Dem Cabinet Office spokeswoman Lisa Smart said: “Even the perception of a link between political advocacy and major corporate donations risks undermining public trust in the integrity of our political system.”
We use your sign-up to provide content in ways you’ve consented to and improve our understanding of you. This may include adverts from us and third parties based on our knowledge of you. More info
Ms Smart also questioned whether any donations to Mr Farage were received in the form of cryptocurrency.
“There is a disturbing possibility that Reform was in possession of Tether when Mr Farage promoted the coin – which would be an abuse of his public position and role as a member of Parliament,” she said.
Labour ’s chair Anna Turley said: “ Nigel Farage has some serious questions to answer. After boasting about taking crypto donations and putting on a front for big crypto firms – it appears nothing has been declared.
Article continues below
“Farage needs to urgently come clean and clarify whether Reform have misled the public or if they have misled the Electoral Commission. He should provide a detailed account of who is funding him, to assure the public there’s been no wrongdoing here.”
The Electoral Commission said Reform has not reported any donations in crypto. An Electoral Commission spokeswoman said: “No political party has reported any donations that they have identified as cryptocurrency.
“Donations in crypto assets would be reported by political parties as ‘non-monetary’ donations. As with all non-monetary donations, details regarding the nature of the donation would be available to view in the donation details on our political finance database.”
Last week, Mr Farage insisted Mr Harborne wants “nothing in return” for his £9m donation to Reform. Asked at a press conference why the British businessman spends so much time in Thailand, the Reform leader said: “Because that’s where he’s been based for some of his business activities for many, many years … his natural home is here.
“His donation is nothing out of the blue. It’s nothing new. I mean, after all … he was a dedicated Brexiteer. He gave a significant amount of money to the Brexit Party at the time.”
Article continues below
Mr Farage continued: “Does he want anything in return for his money? I promise you absolutely nothing. Do I speak to him regularly? Maybe once a month, maybe once every six weeks, but certainly not more than that.”
Reform UK has been contacted for comment.