6 Accepted

Crypto also poses wider upstream risks to the integrity of political finance: donors can convert...

Recommendation
Crypto also poses wider upstream risks to the integrity of political finance: donors can convert ‘dirty’ foreign crypto funds into ‘clean’ UK fiat and then donate it without arousing much suspicion. A ‘last mile’ ban on crypto donations is therefore not a panacea. Specialist capabilities to address upstream risks are underpowered and require further work. (Conclusion, Paragraph 69)
Government Response Summary
The government wholeheartedly agrees and has accepted a recommendation from the Rycroft Review to introduce an immediate moratorium on cryptoasset donations, which will apply from March 25, 2026.
Government Response
Accepted
HM Government Accepted
We agree wholeheartedly with the conclusion of the Committee on this issue. The Rycroft Review similarly recommended that the Government introduce an immediate moratorium on cryptoasset donations to political parties, until such time that the Government is satisfied that there are sufficient safeguards in place to mitigate against risk. On the day the Rycroft Review was published, the Government accepted this recommendation. The anonymity inherent in cryptocurrency transactions creates a clear route for foreign or illicit actors to channel money into our politics, and that is why we agree that a moratorium is necessary until the regulatory environment around cryptoassets is robust enough to protect the integrity of our political finance system from foreign interference. The moratorium will apply to all political donations of any value made through cryptoassets on or after 25 March 2026, with a 30-day period following commencement of the provisions for any previously accepted cryptoasset donations to be returned or forfeited.
Addressee Bodies
Cabinet Office
Timeline
Recommendation age 0.4 yrs
Report published 18 Mar 2026