Parliamentary probe into Nigel Farage over £5m crypto gift

The Parliamentary Standards Commissioner has opened an inquiry into whether Nigel Farage failed to register a £5 million payment from cryptocurrency backer Christopher Harborne that he received before his election to the House of Commons in 2024.

The inquiry follows a formal complaint and requests from Conservative MPs. The commissioner will examine whether Commons rules required Farage to declare the payment after becoming an MP.

Conservative MPs also referred the matter to the Electoral Commission, which is considering whether to open a separate investigation into the donation.

Reform UK began accepting cryptocurrency donations in 2025 and reported multi-million donations from Harborne across recent reporting periods. The party disclosed a substantial donation in the fourth quarter of 2025 after receiving a larger sum in the previous quarter.

Farage has maintained he was under “no obligation” to register the payment because he received it before taking his seat. Critics contend that MPs must register significant gifts after entering Parliament.

Earlier disclosures show Farage held an equity stake in a cryptocurrency firm, reporting a $286,000 investment for roughly a 6.31% holding through his media vehicle, Thorn In The Side. Opposition figures have asked the Financial Conduct Authority to review whether his appearance in promotional material for the firm breached market rules given that investment.

Parliamentary and security committees have called for tighter controls on political donations made in cryptocurrency. One committee recommended an immediate moratorium on crypto donations until the Electoral Commission issues statutory guidance ahead of the next general election, and proposed creating a Political Finance Enforcement Unit and lowering the minimum declaration threshold from about $14,900 to roughly $668.

The standards inquiry will determine whether parliamentary rules were broken and whether any registration obligation applied once Farage became an MP. A finding of a breach could result in recommendations or sanctions. The Electoral Commission’s decision on whether to investigate will be taken separately.