Christopher Harborne has already donated more than £12 million to Reform UK, making him one of the party’s largest financial backers.
HM Treasury proposed unifying UK payments rules for traditional services, stablecoins, and tokenized deposits during Fintech Week in London.
Coinbase's facility allows UK users to borrow up to $5 million in USDC against bitcoin, ether, and cbETH via Morpho on Base.
The proposal would force UK political parties to unwind any crypto donations received once the rules take effect.
UK lawmakers call for immediate ban on crypto political donations, citing high risks and proposing binding moratorium.
UK is working to finalize its broader crypto rulebook, but firms like Coinbase are urging regulators to avoid restrictive stablecoin policies.