Representation of the People Bill (Second sitting)

Debate between Lloyd Hatton and Zöe Franklin

Committee stage
Wednesday 18th March 2026 Public Bill Committees

[Zöe Franklin]

Q I have a second question. The Joint Committee on the National Security Strategy recommended a temporary ban on crypto donations until there is statutory guidance. From your perspective and understanding of crypto, do you agree? Expanding a bit more, is there anything you would recommend in any guidance on crypto?

Alexander Browder: I saw that report, which was very good. As I mentioned, cryptocurrency as a whole may only be properly regulated, at best, by the end of 2027. It needs to be established that cryptocurrency can be regulated, and that that can be enforced properly, to stop bad actors like Russia from entering our elections. What also needs to be established is that the people who are donating are not foreign entities like Russia, but are UK citizens. This is a big issue; due to the inherent nature of cryptocurrency, you are not able to verify properly the source of funds.

[Lloyd Hatton (South Dorset) (Lab)]

Q To build on some of the lines of questioning that have been put forward, I am keen to get your perspective on what the best approach is to make sure we look at the next big challenge that could be posed by crypto donations, particularly if those come indirectly. How do you see us being able to challenge that problem and take it seriously if we find that crypto donations are reaching political parties in this country via an indirect route, particularly via companies or a third party, for example?

Alexander Browder: There need to be stricter “know your donor” requirements. Not only that, but the enforcement on parties should be greater. If they do not respect the political process, there should be higher fines and stricter policies.

On your last point, through my investigations I have found that Companies House has been abused by cryptocurrency exchanges. In one particularly egregious case, two IRGC-linked companies managed to register here in the UK under false names. They were operating for four years, while registered here in the UK, processing billions for the IRGC. That raises the question whether some foreign actor or criminal could set up a UK-registered company and donate through that? That definitely has to be looked at.