The UK lawmaker declared victory following a by-election, triggering a resumption of an investigation from the parliamentary commissioner for standards into his crypto donations.<\/p>\n
UK Reform leader Nigel Farage will face an investigation that had been briefly paused following his resignation from Parliament after winning a by-election on Thursday with no major party candidates participating.<\/p>\n
As of Friday, the UK Parliamentary Commissioner for Standards website showed that Farage was currently under investigation for \u201cfailure to register an interest\u201d related to the Reform leader receiving millions of dollars\u2019 worth of donations and gifts from two figures tied to the crypto industry. The investigation was halted in July after Farage resigned as a member of Parliament, but resumed following his reelection as Clacton\u2019s MP.\u00a0<\/p>\n
The commission will probe cryptocurrency billionaire Christopher Harborne giving Farage $6.7 million as well as the Reform leader\u2019s staff and security funded by George Cottrell, a convicted fraudster tied to a crypto casino.<\/p>\n
Under UK parliamentary rules, new members must register all current financial interests within a month of their election, as well as any benefits received in the 12 months prior. Farage initially called Cottrell\u2019s donation a \u201creward\u201d for campaigning for Brexit and later described both men\u2019s contributions as \u201cgifts\u201d given \u201con an unconditional basis.\u201d<\/p>\n
Related: Reform UK chair calls for probe into SBF-linked donation: Report<\/p>\n
Should the investigation determine that Farage violated parliamentary rules, he faces a possible suspension from parliament, which could trigger another by-election. Cointelegraph reached out to the Parliamentary Commissioner for Standards for comment on the probe but did not receive an immediate response.<\/p>\n
The by-election triggered by Farage\u2019s resignation in July saw the Reform leader winning with 63% of the vote, defeating satirical candidate Count Binface\u2019s 27%. None of the other major parties participated in the race, which then-Labour leader and UK Prime Minister Keir Starmer called a \u201cdesperate stunt\u201d by Farage. Andy Burnham has since become prime minister.<\/p>\n
Amid Farage\u2019s political scandal, Labour lawmakers reportedly proposed that a moratorium on crypto donations implemented in March be made permanent as part of measures to address the potential influence of foreign actors.<\/p>\n
According to the International Bar Association, unincorporated associations are allowed to give more than $675 directly to UK politicians, offering a loophole for companies with business in the country to be used as \u201cconduits for foreign or dark money.\u201d<\/p>\n
Magazine: Inside the fake crypto startup that fooled North Korean IT workers<\/p>\n
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