Overview
- Matt Western sent a letter to Housing Secretary Steve Reed asking ministers to insert a moratorium into the Representation of the People Bill before its March 2 second reading.
- The proposed pause would lift once statutory guidance is issued, reflecting a shift from earlier calls for a full ban that were not included in the bill introduced on Feb. 12.
- Interim safeguards outlined include using only FCA‑registered crypto platforms, rejecting mixer‑linked or unidentified-source funds, and converting donations to pounds within 48 hours.
- Western also urged mandatory source‑of‑wealth checks, tougher penalties for breaches involving foreign money, and expanded Electoral Commission powers to compel disclosures.
- He highlighted enforcement gaps across six agencies and proposed a dedicated national police unit for political finance oversight, while parties such as Reform UK continue to accept crypto under stated compliance checks.