Housing minister Angela Rayner says Labour is legislating to ensure "secure elections that are for the people, and that you can't buy your way into our democracy".
She was speaking on a weekend when two donors said they were both giving £36m to Reform UK.
Crypto billionaire Ben Delo recently moved from Hong Kong back to the UK and announced he was giving Nigel Farage's party millions of pounds.
That was followed by a second crypto billionaire, Chris Harborne, saying he would match the donation - he is based in Thailand.
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