Key Notes
- Reform UK begins accepting crypto donations.
- Nigel Farage says he was pro-crypto before Trump, dismissing copycat claims.
- The party plans pro-crypto reforms, including a Bitcoin reserve and lower crypto taxes.
British populist leader Nigel Farage announced that Reform UK has started receiving crypto donations.
The party had already received “a couple” of crypto donations but did not specify the amount or the donors.
Farage clarified that, to his knowledge, no crypto companies have directly donated to the party. However, he added that there may have been some event-related sponsorships by crypto businesses during the recent London crypto conference.
While Reform UK has just five of the 650 seats in Parliament, it is polling ahead of Prime Minister Keir Starmer’s Labour government. Farage wants the UK to become a friendlier jurisdiction for crypto entrepreneurs.
When asked if he was imitating the US president Donald Trump’s crypto-friendly campaign tactics , Farage dismissed the comparison.
He stated that he was “way before” Trump, adding that he publicly voiced support for crypto in 2020, years before Trump’s “crypto president” pitch.
Farage also revealed that he personally holds digital assets, stating, “I’ve got some crypto investments in the long term.”
Reform UK’s Crypto Agenda
Farage has positioned himself as one of the few British politicians openly backing digital assets. Earlier this year, Reform UK became the first British political party to announce crypto donations, setting the stage for its deeper engagement with the sector.
He has since pledged a set of pro-crypto policies, introducing a Crypto Assets and Digital Finance Bill to cut capital gains tax on cryptocurrencies from 24% to 10%.
The proposed legislation would also ban banks from closing accounts linked to legal crypto activity, along with establishing a Bitcoin reserve at the Bank of England.
Farage has also criticized the Bank of England’s proposed limits on stablecoin ownership, describing them as anti-innovation.
He also remains a fierce critic of central bank digital currencies (CBDCs), calling them a “total and utter horror” and a threat to personal freedom.
The UK crypto industry, currently governed under the Financial Conduct Authority’s patchwork of existing rules, has welcomed Reform’s support.
Many insiders say that clear, pro-growth legislation could finally help London reclaim its role as a global fintech capital.
