Pat McFadden, the Cabinet Office minister and close ally of the prime minister, Keir Starmer, told MPs on Monday he thought there was a case for preventing crypto donations given how hard it was to trace their source.
His comments come two months after Nigel Farage announced his Reform UK party would become the first in British politics to accept donations in bitcoin, mirroring a similar move made by Donald Trump in the 2024 US presidential election.