Farage Faces UK Standards Probe over $7M Gift from Crypto Billionaire

Reform UK leader Nigel Farage is reportedly facing a parliamentary standards inquiry over allegations that he failed to declare a 5 million pound ($6.7 million) gift from crypto billionaire Christopher Harborne. The UK Parliamentary Standards Commissioner has launched an investigation into whether Farage breached House of Commons rules by not registering the payment. Farage claims he was under no obligation to declare the gift received before his 2024 election to the Commons, while critics argue it should have been registered after he became an MP. The Conservatives have formally requested an investigation by the standards watchdog and have also raised the issue with the Electoral Commission. This inquiry adds to existing scrutiny of Farage's financial connections to crypto-related backers and businesses amidst increasing attention from UK lawmakers and regulators on digital assets in politics. The situation follows a call by the Liberal Democrats for the Financial Conduct Authority to investigate Farage for a potential breach of market rules related to a promotional video for Stack BTC, in which he held a financial stake.

(Source：Cointelegraph)