- Coinbase is attacking a ban on crypto donations in the UK.
- The ban is designed to counter foreign influence in UK politics.
- It’s also seen as a blow to Reform UK.
Coinbase has lashed out at the UK government over a new ban that targets crypto donations to political parties, calling the measure a “blunt instrument” that fails to target “legitimate concerns.”
The crypto exchange’s attack comes after Dan Jarvis, the UK’s security minister, said the new measures were designed to “keep our country safe and defeat attempts to meddle in our democracy.”
The government said that cryptocurrency donations allow bad actors to influence elections in Britain anonymously.
While the government has signalled that a ban was coming for months in order to protect elections from foreign influence, Coinbase’s Vice President of International Policy, Tom Duff Gordon, still accused Westminster of missing the mark
“Here’s an idea, why not just allow crypto donations to UK political parties if a: they come via UK-registered crypto platforms with full KYC and AML checks and b: there is real-time electoral commission reporting,” Duff Gordon said in a statement shared with DL News.
“A blanket ban feels like a blunt instrument and not targeted at the legitimate concern here, which is identity and source of funds, not the manner of payment.”
Blow to Farage
The ban is seen as a blow to Nigel Farage’s right-wing party Reform UK, which became the first and so far the only political party in the UK to accept crypto donations last year.
Richard Tice, Reform’s deputy leader, accused the government of trying “to stop the incredible progress of Reform.”
The ban comes as the crypto lobby flexes its muscles on both sides of the Atlantic. In the US, the industry has already deployed over $273 million to influence the outcome of the US midterms this year, according to donations data tracked by crypto researcher Molly White.
FairShake, the crypto super PAC that Coinbase is the top donor to, has been the biggest industry donor so far.
In the UK, crypto donations have played a far smaller role than in the US. The grand total of all donations to British political parties came to just under £65 million in 2025, according to the Electoral Commission. The data does not break down if the donations were made using cryptocurrencies.
Reform accepted just under £19 million in donations in 2025. Of that, at least £11 million cames from Christopher Harborne, a crypto investor and aviation entrepreneur.
Farage has been an outspoken supporter of the crypto industry. Over the years, he has made several appearances at industry conferences.
At the Zebu Live conference in London in October, he said he would make the UK the crypto capital of the world “when I’m in Number 10,” referring to Number 10 Downing Street, the prime minister’s residence.
“I want to bring in digital assets and crypto from the cold in London, to have that regulatory framework under which everybody can operate,” Farage said.
Banned ads
Coinbase has attempted to influence the UK government’s views on crypto in the past.
In January, a Coinbase advert suggesting that digital assets could ease the UK’s cost of living crisis was banned by the Advertising Standards Authority.
This week, the Coinbase Institute, a think tank, published a survey that suggested that political parties, including the governing Labour Party, could attract more young voters by engaging more with the crypto industry.
Eric Johansson is DL News’ managing editor. Got a tip? Email him at eric@dlnews.com.
