Restore Britain Party Refunds Anonymous Crypto Donations After Labour MP Raises Electoral Commission Concerns
Restore Britain, the nascent political party founded by former Reform UK MP Rupert Lowe, has confirmed the return of all donations received from a cryptocurrency project named Britain Token. This action follows a complaint lodged with the Electoral Commission by Labour MP Phil Brickell, who called for an investigation into the payments.
A spokesperson for Restore Britain stated, "We have already refunded every single penny received from this organisation, going above and beyond any necessary rules to ensure that we are fully compliant." The Electoral Commission confirmed it is reviewing the information provided but has not initiated a formal investigation.
Britain Token, a 'memecoin' launched in February by unidentified developers and investors, had publicly claimed to donate approximately £26,000 to Lowe's party. While current UK law does not prohibit cryptocurrency donations to political parties, the government announced last month its intention to legislate a ban. Communities Secretary Steve Reed cited the "anonymity inherent in crypto transactions" as a potential enabler for masking fund origins.
Screenshots suggest the Britain Token donations were processed in British pounds through Restore Britain's online portal, predating the proposed legislative ban. Brickell, who chairs the all-party Parliamentary group on Anti-Corruption and Responsible Tax, argued in his letter that Britain Token lacks legal status, rendering it an impermissible donor. UK parties must verify donations over £500 originate from permissible sources and cannot accept anonymous funds.
Restore Britain, which launched in February and advocates for policies such as low taxation and secure borders, has garnered an endorsement from American billionaire Elon Musk. Despite its recent formation, YouGov polling indicates the party currently holds 3% support nationally. Lowe aims to establish a "national party" but will only contest his Great Yarmouth constituency in the upcoming local elections. The value of the Britain Token memecoin has since collapsed, with a new version emerging on a different platform; the use of its proceeds remains unclear.
