The chair of the Labour Party has written to Britain’s top financial regulator, calling for an investigation into rival Reform UK over concerns that its leader Nigel Farage benefited wealthy donors when lobbying on cryptocurrencies and stablecoins.
In a letter Wednesday to Financial Conduct Authority chief executive Nikhil Rathi , Anna Turley said she wanted the FCA to consider whether “any communications” by Farage on stablecoins or crypto “may amount to an invitation or inducement to engage in investment activity.” She also asked it to look into whether Farage had made clear to consumers any financial interests he had in the assets and whether there were any wider consumer protection or market integrity concerns.