A new political party launched by former Reform UK MP Rupert Lowe has refunded donations from a cryptocurrency project after concerns were raised with the Electoral Commission.
Labour MP Phil Brickell urged the watchdog to investigate contributions made to Restore Britain by the anonymous creators of Britain Token, a memecoin. The Electoral Commission said it is reviewing the information but has not opened a formal probe.
A Restore Britain spokesperson confirmed the party has "already refunded every single penny received from this organisation, going above and beyond any necessary rules to ensure full compliance."
Britain Token, a memecoin created in February by anonymous developers, claimed on its website to have donated approximately £26,000 ($34,800) to Lowe's party. The project stated it is not affiliated with Restore Britain but supports its policies.
While cryptocurrency donations to UK parties are currently legal, the government recently announced plans to legislate against them. Communities Secretary Steve Reed cited concerns that "the anonymity inherent in crypto transactions could mask the origin of donations and evade robust checks on the true source of funds."
Restore Britain launched as a political party in February and has been endorsed by Elon Musk. The party advocates for low taxes, small government, secure borders, and promises to "deport all illegal migrants" if elected. Despite being new, it polls at 3%, according to YouGov.
In his letter to the Electoral Commission, Brickell argued that Britain Token "does not appear to have any legal status or recognised existence, and therefore cannot constitute a permissible donor." He noted the donations appeared to be converted into conventional currency before being processed through Restore Britain's online portal.
Under UK law, parties must verify donations over £500 come from permissible sources, such as registered voters or UK-registered companies. Anonymous donations are prohibited.
The Electoral Commission responded to Brickell, stating it would give the matter "full consideration, undertaking a review under our regulatory remit." However, it later told the BBC the case is not under formal investigation.
A Restore Britain spokesperson accused the Electoral Commission of "leaking supposed damaging information to smear us" and said the party would file a complaint, calling the regulator's actions "an outrageous abuse." The Commission declined to comment on the accusation.
Britain Token and related X accounts did not respond to requests for comment.