- Nigel Farage has been referred to the Financial Conduct Authority (FCA) over claims his advocacy for cryptocurrencies benefits his billionaire backer, Christopher Harbone.
- Anna Turley, Chair of the Labour Party, wrote to the FCA, urging an investigation into whether Mr Farage is using his public role to benefit those who fund him.
- Mr Harbone, a Thailand-based crypto investor, has donated millions to Mr Farage and Reform UK , including a record £9m last August and a further £3m this year.
- The letter highlights Mr Farage's public praise for stablecoins like Tether and his arguments against measures that could limit their growth, including during a private meeting with Bank of England Governor Andrew Bailey.
- An ongoing investigation by Westminster's standards watchdog is also looking into whether Mr Farage broke Commons rules by not declaring a £5m "gift" from the crypto entrepreneur after his election in 2024.
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