On its X account, Britain Token said Lowe was “working to put the British back in the place they deserve” and promised to donate 100% of its earnings from investor fees to Restore Britain.<\/p>\n
Developers of memecoins can receive fees from investors for every transaction involving their token.<\/p>\n
Britain Token’s apparent donations pre-date the announcement of the government’s ban on cryptocurrency donations and screenshots of receipts posted to social media suggest they were paid in British pounds.<\/p>\n
Britain Token has not shared any posts about donations on its X account since early March.<\/p>\n
The value of the Britain Token memecoin has since collapsed and a new version of the cryptocurrency has been created on a different platform.<\/p>\n
It is not clear how the proceeds of investments in the new version of the cryptocurrency will be used.<\/p>\n
In his letter to the Electoral Commission, Brickell said Britain Token “does not appear to have any legal status or recognised existence, and therefore cannot constitute a permissible donor”.<\/p>\n
Brickell said the donations appear to have been converted into conventional currency before being processed through Restore Britain’s online donation portal.<\/p>\n
The Labour MP, who chairs of the all-party Parliamentary group on Anti-Corruption and Responsible Tax, urged the Electoral Commission to launch an investigation to “confirm whether this fundraising arrangement is permissible, and take appropriate enforcement action if breaches have occurred”.<\/p>\n
In the UK, parties must check donations over \u00a3500 are from permissible sources, which include people listed on the UK electoral register and UK-registered companies.<\/p>\n
The Electoral Commission says parties must not accept donations made anonymously, or if they are unable to identify who the donor is.<\/p>\n
In a letter responding to Brickell last week, the Electoral Commission said: “We will give this our full consideration, undertaking a review under our regulatory remit.”<\/p>\n
When approached for comment this week, the watchdog told the BBC: “This is not the subject of an investigation by the Commission.”<\/p>\n
The Restore Britain spokesperson accused the Electoral Commission of “leaking supposed damaging information in order to smear us” and said the party would submit a complaint.<\/p>\n
“This is an outrageous abuse by the ‘impartial’ regulator,” the party spokesperson said.<\/p>\n
The Electoral Commission did not comment on this accusation.<\/p>\n
Britain Token and X accounts associated with the project did not respond to requests for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"On its X account, Britain Token said Lowe was “working to put the British back in the place…\n","protected":false},"author":2,"featured_media":929601,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5018,3,4],"tags":[748,393,4884,1144,712,16,15,1764],"class_list":{"0":"post-929600","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-britain","8":"category-uk","9":"category-united-kingdom","10":"tag-britain","11":"tag-england","12":"tag-great-britain","13":"tag-northern-ireland","14":"tag-scotland","15":"tag-uk","16":"tag-united-kingdom","17":"tag-wales"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116496508301149247","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/929600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=929600"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/929600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/929601"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=929600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=929600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=929600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}