Reform UK to accept crypto donations, Farage says

31 comments

1. Lmao just saw this in the pol sub, and I’ll say the exact same thing i said there: you have to provide literally exactly the same information as when you donate with cash so this is a non-issue in regards to dodgy donos

2. I’ll say this.

   Crypto can be moved globally, instantly, and without using a bank
   It’s harder to trace than a bank account or PayPal, but not impossible.
   Monero, Zcash, and other privacy coins are more anonymous, and those are what criminals prefer when they want to cover their tracks better.

3. We need greater transparency in political donations, not less

4. Worth remembering that you are technically realising the value of an asset when you donate crypto though.

   So if you have been holding for a while you have to pay tax on the increase in value even though you are giving it away.

5. So that’s how the Russians and the American hard-right are going to fund Reform’s next election campaign.

6. Just making it easier for them to take dodgy Russian money

7. I’m looking forward to the headline “Reform UK gets sentenced”

8. So people in foreign countries can send political donations and on one can trace where they came from

   I’m sure trump and putin approve

9. Can we please stop giving airtime to Nigel ‘Russia Today’ Farage.

10. All above board obviously.

    Can we turn up the heat on him please? If Labour or Tories did this there would be far more criticism from media, absolutely raging uproar if Labour from the usual rags.

    Reform say they do this, printed in press nobody gives an once of scrutiny to it in media and he gets away with it.

11. Awesome, the ledgers are public. So in sure some bright spark will develop a tool to track this bellends money donations and who owns the wallets it’s coming from.

    He thinks this will allow him anonymous donations from foreign entities? He has no idea what crypto actually is…

12. Gawd.

    I fully expect one “Tonald Drump” to make an obscene donation.

13. Why not take gift cards too? If it’s good enough for Nigerian scammers time the English ones learnt their tricks

14. Can’t wait for my fellow idiots (British voters) to lose their pensions and life savings buying farage coin and getting rugged pulled both politically and financially. It’s a beautiful things.

15. Completely untraceable “donations”. Yes, absolutely no issues there. /s

16. Predicting Reform’s next moves doesn’t even need any brain power, just check off a list of Trump’s administration’d first six months and you’ll find everything you need

17. I’m sure this absolutely won’t be used to obscure their connections with Russia ect.

18. Poundland Trump. Starting low and aiming for lower.

19. Those bribes and kickbacks should really flow in now. To be fair Frogage was always bought and paid for by foreign interests.

20. Pleeeeease let them get hit by a crypto scam, please!

21. Best I can do is a mouldy sandwich and some toenail cuttings.

22. This seems throughly above board and not at all suspicious to me.

23. They already accept shit in bags.. please send urgently!! 😂

24. Unregulated dark money buying our politicians like in america, just what we need.

25. They probably already are, straight from the Kremlin’s coffers…👍

26. The amount of times Farage is able to go directly against his previous comments and still get popular support boggles the mind.

    The media should challenge him but unfortunately he works for the same paymasters as them so they wont.

27. I think every single political donation needs to be in a public register. 1p to 1 million pounds, it no longer matters.

    Back in the day when your old man popped his beer change in the union tin it was clear who was funding a voice for him in parliament.

    If political parties are going to open allow themselves funding routes this abusable then the only real solution is for every transaction to a political party to be an ID verified transfer that’s open for everyone to see a record off at all times.

28. Can’t do anything about it since the lefties accepted European money to betray the referendum, and USAID money from the democrats. Havent got a leg to stand on the hypocrites.

29. Crypto will never be banned and also will never have a use. It’s just a way to launder money and scam people.

    Bitcoin is 15 years old, you’d think at some point it’d have a use outside of hiring hitmen and buying drugs. But nope, no interest in actually using it for legit uses. 

30. Fun fact, a decade or so ago I remember researching how crypto-currency worked for political donations (because PPUk received some). Turns out it is all perfectly fine – it just counts as regular property, with the value based on the exchange rate at the time of donation. Accounting for its change in value is a pain, but you just treat it like any other asset that can appreciate or depreciate, and use a conversion rate at the start/end of the accounting year. Just as you would foreign currency reserves, or stock.

    Except, of course, you have to be able to account for who donated it. You have to know where it came from.

    With us it was fine, as we never got much in crypto donations; the Electoral Commission doesn’t consider anything under £500 to be a donation, and we never got close to hitting that. The main issue is that if you get donations totalling more than £500 in an accounting period you have to be sure they’re from different people.

    Reform might not be so lucky.

    And we’ve actually been here before. [Back in 2019](https://www.bbc.co.uk/news/uk-politics-48611704) Reform (then trading as the Brexit Party) was warned it might be breaking the law over accepting PayPal donations – it raised millions in largely untraceable donations via PayPal, in small amounts.

    If they know where the cypto comes from, and account for it properly, they should be complying with the law.

    If…

31. We welcome any and all illegal donations from right wing pundits ££ from around the world (wink Russia)

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