Reform UK, the political party led by Nigel Farage, is set to become the first European political party to accept cryptocurrency donations, as reported on a Radom blog post.
The crypto contributions will be processed by Radom, a U.K.-based company with VASP (Virtual Asset Service Provider) licenses.
What to know:
- Reform UK, headed by Nigel Farage, will be the initial European political party to allow crypto donations.
- The donations will be managed by Radom, a crypto payments firm based in the U.K.
- Farage intends to transform the U.K. into a crypto hub if he is elected as the next prime minister.
The blog indicates that the average crypto donation can reach $6,000, significantly higher than traditional donations. This move follows a notable trend in U.S. politics where Donald Trump received $18 million in crypto donations as part of his campaign for the 2024 presidential election.
Farage has expressed aspirations to replicate Trump’s strategy to promote the U.K. as a crypto hub.
In the past, Farage faced challenges with banking services in 2023 while pushing for discussions on banking freedom regarding those with differing political views.
“We’re excited to be working with Reform UK on this initiative. We appreciate Nigel Farage’s efforts in drawing attention to the issue of debanking in the U.K., and we’re pleased to see a major political party embrace crypto,” stated Radom CEO Chris Wilson.
“We hope this encourages broader adoption in the U.K. and helps drive progress toward clearer regulatory frameworks—something that we see as vital for sustainable industry growth.”
