Coinbase Lashes Against Gov's Crypto Ban
Coinbase Lashes Against Gov's Crypto Ban
Coinbase lashes against gov's crypto ban, calling it a "blunt instrument". The UK government's new measure targets crypto donations to political parties.
Coinbase's Response to the Ban
Coinbase's Vice President of International Policy, Tom Duff Gordon, accused Westminster of missing the mark. He suggested allowing crypto donations via UK-registered platforms with full KYC and AML checks.
Alternative Solution
Duff Gordon proposed real-time electoral commission reporting, targeting the legitimate concern of identity and source of funds, not the manner of payment.
Impact on Reform UK
The ban is seen as a blow to Nigel Farage's right-wing party Reform UK, which accepted crypto donations last year. Richard Tice, Reform's deputy leader, accused the government of trying to stop the party's progress.
Crypto Lobby and Donations
The crypto lobby has deployed over $273 million to influence the US midterms. In the UK, crypto donations have played a smaller role, with the total donations to British political parties being just under £65 million in 2025.
Crypto Donations Data
- £65 million: Total donations to British political parties in 2025
- $273 million: Crypto lobby's deployment to influence US midterms
Key Takeaways
- Coinbase opposes the UK government's crypto donation ban
- The ban targets crypto donations to political parties
- Reform UK is affected by the ban, having accepted crypto donations last year
- The crypto lobby is active in influencing politics, with significant deployments in the US
Frequently Asked Questions
What is the UK government's stance on crypto donations?
The UK government has banned crypto donations to political parties, citing concerns over anonymous influence.
How has Coinbase responded to the ban?
Coinbase has called the ban a "blunt instrument" and proposed an alternative solution with KYC and AML checks.
