Political donations in cryptocurrency could be blocked in blow to Reform UK

Review recommends funding from Britons abroad be capped and temporary ban on cryptocurrency donations

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Political funding from British citizens living abroad should be capped at between £100,000 and £300,000 a year and donations in cryptocurrency temporarily banned, a government review has recommended.

The findings by Philip Rycroft, a former permanent secretary at the Home Office, will be a blow to Reform UK, which has received about £12m in the last year from the Thai-based investor Christopher Harborne and other donations from a number of donors based in Monaco.

Requiring third party campaigners to declare donations all year round, not just election periods, and only allowing funding from permissible donors.

More stringent checks on the source of funds from political donors, bringing it more into line with know-your-customer checks in the financial services industry.

Preventing donations from shell companies by ensuring funding is from post-tax profits rather than revenue.

Requiring foreign consultant lobbyists to join the official register are they are currently exempt because they do not charge VAT.

Banning foreign funded political adverts outright.