Political Parties: Finance
The question
To ask the Right hon. Member for Kenilworth and Southam, representing the Speaker's Committee on the Electoral Commission, what guidance the Commission has issued on political donations being made via cryptocurrencies.
Answered by Sir Jeremy Wright
The Commission’s guidance on permissibility of donations includes information on cryptocurrencies. The guidance states that the same legal requirements apply to donations received in cryptocurrencies as any other donations. Parties must ensure that they obtain donors’ details, so they can check permissibility. As with other types of assets, parties must report the value in pounds at the time of the donation.
The Commission will continue to review its guidance and support for parties to ensure that they are aware of how the law applies to cryptocurrency donations.
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