Cryptoassets: Political Parties
The question
To ask the Chancellor of the Exchequer, with reference to the Office of Financial Sanctions Implementation's blog entitled OFSI and partners clamp down on the abuse of cryptoassets, of 28 January 2026, whether the OFSI will examine crypto donations being made to political organisations.
Answered by Lucy Rigby
Since 2020, UK cryptoasset firms have been subject to the Money Laundering and Terrorist Financing Regulations, requiring strict supervision, customer checks and suspicious activity reporting. Since 2023, these firms have also been required to collect, verify and share information about the sender and receiver of transfers.
The Treasury’s Office of Financial Sanctions Implementation (OFSI) works alongside other government agencies to tackle the threats posed to sanctions by illicit cryptoasset activity. While OFSI does not comment on individual cases, it is fully prepared to investigate any sanctions offences, including those that may involve donations to political organisations.
The rules for donations in cryptoassets apply in the same way as they do for any other political donations. The Government announced in December 2025 that the independent Rycroft Review will assess current financial rules and safeguards that regulate political finance and political parties. The Review will specifically consider safeguards against illicit funding streams, including difficult-to-trace assets such as cryptoassets.
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