£72 Million Donation to Reform UK, Potential for Refund Under New UK Regulations

Record Political Donations from Two Cryptocurrency Tycoons

The UK political party Reform UK (formerly known as The Brexit Party) has received donations totaling £72 million (approximately ¥15 billion) from Ben Delo and Christopher Harborne, each contributing £36 million (approximately ¥7.5 billion).

These donations are considered tied for the highest individual contributions to a UK political party. However, due to changes in political donation regulations being pursued by the government, there is a possibility that new legal scrutiny could apply to donations that have already been made.

Reform UK Claims Legitimacy, Total Donations of £72 Million

It was revealed that Delo, co-founder of BitMEX, donated £36 million, and the following day, cryptocurrency investor Harborne also announced a donation of the same amount.

Harborne is known as an investor in Tether and Bitfinex, but there is no information indicating that either donation was made in cryptocurrency, and the payment methods have not been disclosed.

Reform UK claims to have verified the eligibility of the donors before accepting the funds, asserting compliance with the rules of the Electoral Commission and UK law.

Delo explained that the donation amount was calculated based on a commitment to contribute £1 million (approximately ¥200 million) monthly until the latest possible date for the next general election, which is considered to be August 2029. He stated that the donation was made in anticipation of strengthened political donation regulations by the government.

Potential for Refund if New Regulations Are Applied Retroactively

The UK government is planning to impose a cap of £100,000 (approximately ¥20 million) per year on political donations from UK citizens registered as overseas voters.

Angela Rayner, the Secretary of State for Communities, indicated on Sunday, September 13, 2026, that the £72 million donation could fall under regulatory scrutiny depending on amendments to the "People's Representation Bill."

The proposed regulations could be applied retroactively, potentially reaching back to March 25 for donors registered as overseas voters and to July 6 for others. Funds deemed illegal would need to be refunded within 30 days of enforcement.

However, at this time, neither Reform UK nor the two donors have been deemed illegal. The applicability of the regulations may depend on the timing of Delo's return to the UK, Harborne's residency status, and voter registration categories. Additionally, the investigation by the Metropolitan Police into Reform UK's overseas donation allegations is considered a separate matter from these two donations.

The final outcome is expected to be determined after Parliament finalizes the wording of the bill and relevant authorities scrutinize the donor records.

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