Question

To ask the Right hon. Member for Kenilworth and Southam, representing the Speaker's Committee on the Electoral Commission, whether the Electoral Commission plans to ask political parties and regulated donees to declare donations over £500 made by cryptocurrencies.

If the market value in GBP of any cryptoasset received by a party or regulated donee is greater than £500, they must treat it as a donation and check the donor is permissible. If it is greater than the reporting threshold (£11,180), it must be reported to the Commission.

Donations in cryptoassets of £500 or less are outside the scope of electoral law and do not need to be recorded or reported.