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A newly formed political party founded by former Reform UK MP Rupert Lowe has refunded donations received from a cryptocurrency project, following concerns raised with the Electoral Commission about the source of the funds. The donations originated from Britain Token, a memecoin created earlier this year by anonymous developers and investors. Labour MP Phil Brickell has called on the Electoral Commission to investigate these payments made to Restore Britain, the party launched by Lowe.
Britain Token’s website indicated it had contributed approximately £26,000 ($34,800) to the party. Although the project claims no official affiliation with Restore Britain, it has expressed support for the party’s policies. At present, cryptocurrency donations to UK political parties are not illegal; Reform UK leader Nigel Farage has previously welcomed such contributions given his support for the crypto sector. However, Communities Secretary Steve Reed highlighted concerns about the anonymity of crypto transactions, warning that they could be used to conceal the true origins of funds and evade necessary oversight.
Restore Britain states that it has reimbursed all funds received from Britain Token, taking steps “above and beyond any necessary rules to ensure that we are fully compliant,” according to a party spokesperson. The party, which began earlier this year and has attracted endorsement from billionaire Elon Musk, advocates policies such as low taxes, reduced government scope, and stringent immigration controls, promising to deport all illegal migrants if elected. Lowe’s longer-term goal is to build a national party, though the group will only contest select local elections next week.
Concerns remain about the legality and transparency of the donations. Brickell, who chairs the all-party Parliamentary group on Anti-Corruption and Responsible Tax, argues that Britain Token “does not appear to have any legal status or recognised existence, and therefore cannot constitute a permissible donor.” The donations seem to have been converted into traditional currency before appearing in Restore Britain’s donation portal. The Electoral Commission has confirmed it is reviewing the matter but has not launched a formal investigation. Meanwhile, Restore Britain has accused the regulator of leaking information to damage its reputation, vowing to file a complaint, while Britain Token representatives have not responded to requests for comment
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