To ask the Secretary of State for Housing, Communities and Local Government, whether the proposed retrospective ban on cryptocurrency donations will apply to unreportable donations below (a) £500 under the Political Parties Elections Act 2000 and (b) £50 under the Representation of the People Act.
To ask the Secretary of State for Housing, Communities and Local Government, how the proposed ban on crypto-donations and overseas donations over £100,000 will apply to hon. Members.
To ask the Secretary of State for Housing, Communities and Local Government, with reference to the factsheet entitled Political Donations Overview: existing rules and what is changing, published on 2 March 2026, whether the new provisions on (a) due diligence, (b) company donations, (c) crypto-donation and (d) overseas donations will apply to donations to gifts and hospitality to Ministers in a Ministerial capacity.
I can hear voices challenging that, asking, “So a little bit of crime is okay?” We need to recognise a point similar to those made by Members across the Chamber about crypto. The world is changing. We have very significant and onerous duties for opening a UK bank account and proving our identity, but we live in a world where more organisations are coming to the market and saying, “We can provide you with that document, but without the need to meet any of those standards,” in exactly the same way as people are using crypto to transfer money around without the audit trail that we see with other forms of financial transactions. We need to make sure that our electoral system meets the test and that we can identify those exercising their vote in that way.
A key part of that is ensuring that we futureproof the regulation of financial services in the UK. There has been much mention of crypto, but I would like to add the need to ensure that non-regulated activity undertaken by regulated institutions requires scrutiny.
This statement takes a neutral and governance-focused stance, acknowledging crypto in the broader context of futureproofing financial regulation. It highlights the need for oversight of unregulated activities, especially when conducted by regulated institutions, without singling out crypto as inherently problematic.