Restore Britain party refunds crypto project's donations

The Restore Britain party, founded by former Reform UK MP Rupert Lowe, has refunded all donations received from a cryptocurrency project called Britain Token amid concerns raised with the UK Electoral Commission. The party’s spokesperson confirmed that every penny from the crypto project was returned, exceeding regulatory requirements to ensure compliance. Labour MP Phil Brickell has called for the Electoral Commission to investigate the donations, though the watchdog has yet to open a formal inquiry. Britain Token, a memecoin launched in February, claimed to have donated approximately £26,000 to Restore Britain, despite stating it was not officially affiliated with the party but supported its policies. Cryptocurrency donations to UK political parties are currently legal, though the government recently announced plans to ban such contributions due to concerns over the anonymity of transactions potentially masking the true source of funds. Communities Secretary Steve Reed emphasized that the ban aims to strengthen transparency and prevent evasion of donation checks. Restore Britain, which promotes policies such as low taxes, small government, and strict immigration controls, has gained some traction since its launch, polling at 3% in recent surveys. The party has been endorsed by cryptocurrency advocates and aims to become a national political force. Britain Token’s developers pledged to donate all investor fees to the party, but the value of the memecoin has since collapsed, and a new version of the token has been created on a different platform, with unclear intentions regarding the use of proceeds. The situation highlights growing scrutiny over the role of cryptocurrencies in political funding, as regulators and lawmakers seek to balance innovation with the need for transparency and accountability in electoral finance. The Electoral Commission’s forthcoming decisions could set important precedents for how digital currencies are treated in UK political donations.