https://yorkshirebylines.co.uk/politics/farage-harborne-5mn-and-reforms-cryptocurrency-bill/

Within a year of receiving £5mn from a crypto billionaire, Nigel Farage’s Reform UK published a draft crypto bill

[which has since been withdrawn (unpublished) form Reform’s website]

The previously undisclosed £5mn ‘gift’ that Nigel Farage received from the British-born, Thailand-based cryptocurrency billionaire Christopher Harborne in mid-2024, shortly before reversing his decision not to stand as an MP in the coming general election, has certainly raised a few questions. Farage claims he was under no obligation to declare it since he wasn’t an MP at the time and, anyway, it was simply a no-strings-attached gift.

I’m sure we are all very pleased for him. Parliamentary authorities, however, are sceptical and have launched an investigation. Farage may eventually face a recall petition and a by-election if the standards commissioner hands out a lengthy suspension.

Not being a details man, he probably didn’t realise the rules require new members, within one month of their election, to declare “any registrable benefits (other than earnings) received in the 12 months before their election”. Personal gifts can be ignored, but only if they are from family members and even then, “the possible motive of the giver and the use to which the gift is to be put should be considered. If there is any doubt, the benefit should be registered”.

Registrable means anything that “might reasonably be thought by others to influence his or her actions, speeches or votes in Parliament, or actions taken in his or her capacity as a Member of Parliament”.

The money is reported to have been accompanied by a legal document declaring it to be “unconditional and irrevocable”. The Reform UK leader also suggested it was for his personal security, saying: “This money is the only way I can look after myself, and protect myself for the rest of my life”. That explanation barely survived the week with Farage later telling The Sun instead that it was “a reward for campaigning for Brexit for 27 years”.

Was the £5mn really just a gift?

Some, including Farage’s former colleague Ben Habib, suggest the purpose of the £5mn was to persuade Farage to stand as MP for Clacton. Farage formally announced on 23 May 2024 that he would not be a candidate in the general election that PM Rishi Sunak had announced the previous day. By 3 June, Farage had changed his mind. He would stand after all, and he was elected on 5 July with a 45% swing, the largest for any seat at a UK general election.

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Article by Anthony Robinson continues at https://yorkshirebylines.co.uk/politics/farage-harborne-5mn-and-reforms-cryptocurrency-bill/. There is more to the story of Nigel Farage, Reform UK and cryptocurrency …