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Political donations in cryptocurrency should be banned, while cash from ex-pats should be capped to stop foreign interference in British politics, MPs have been warned.
The move, outlined in a new report on Wednesday, would outlaw Reform UK’s record-breaking £9m donation from a British businessman based in Thailand.
The independent review into foreign financial influence also found that Iran, Russia and China are trying to “cause harm” to the UK’s democracy.
It warns that foreign interference in the UK is “real and persistent” and the government needs to make it a “far higher” priority.
The report also calls for a ban on foreign-funded online political ads, and found posts on Scottish independence had fallen by around a quarter when Iranian net went dark recently.
The report was ordered after Reform UK’s former leader in Wales, Nathan Gill, was jailed for taking bribes to make pro-Russia statements while a member of the European Parliament.
It has urged MPs to cap donations from British nationals living abroad in order to protect Westminster from foreign interference.
Nigel Farage was forced to defend a £9 million donation from Thai-based crypto billionaire Christopher Harborne last year, insisting he “wants nothing from me”.
But the donation prompted concerns about political funding, as Mr Farage publicly promoted Tether, the cryptocurrency company that Mr Harborne is a shareholder in, shortly after receiving the donation.
More follows on this story..