Reform UK, led by Nigel Farage, has announced its acceptance of bitcoin and other cryptocurrencies for political donations. This announcement was made at the Bitcoin Conference in Las Vegas, where Farage was introduced as a “UK presidential candidate.” He stated that Reform UK is the first political party in Britain to allow donations in digital currencies, provided the donor meets eligibility criteria.
Farage also revealed plans to introduce a cryptoassets and digital finance bill aimed at reducing capital gains tax on cryptocurrencies from 24% to 10%. He believes these measures would position the UK as a “crypto powerhouse.” Furthermore, his proposed legislation would establish a “bitcoin digital reserve” at the Bank of England and make it illegal for banks to refuse services to customers who engage with cryptocurrencies.
On the same day, Reform UK updated its website to facilitate cryptocurrency donations, while clarifying that all contributions would adhere to Electoral Commission regulations and that anonymous donations would not be allowed. Farage described the move as “innovative” and praised the US for its progressive approach to digital assets.
Addressing the British public, particularly younger audiences, Farage urged support for his vision to modernise the country and embrace cryptocurrency and digital assets. He noted the lack of action on cryptocurrencies by both the current Labour government and the previous Conservative administration, criticising former Prime Minister Rishi Sunak for only making a single speech on the topic.
A spokesperson for Reform UK confirmed that further details regarding cryptocurrency donations would be announced soon. Notably, Reform UK is structured as a private company largely controlled by Farage, rather than a traditional members’ association, with its ownership attributed to Reform 2025, a small non-profit entity co-directed by Farage and Zia Yusuf.