Farage Proposes a Bitcoin Reserve and Advocates Ending Crypto Banking Restrictions
Nigel Farage calls for sweeping changes in UK cryptocurrency policy at Bitcoin 2025.
Nigel Farage is no longer just influencing British politics; he aims to transform the entire financial landscape. Speaking at the Bitcoin 2025 conference in Las Vegas, the leader of Reform UK unveiled ambitious proposals that resemble a crypto manifesto rather than a conventional political platform.
He introduced the “Crypto Assets and Digital Finance Bill,” featuring daring initiatives aimed at establishing the UK as a leader in digital assets. Key proposals include:
- Reducing crypto taxes: Farage has suggested lowering capital gains tax on cryptocurrency profits from a high 24% to a flat 10%. His argument centers on the need for a more accessible tax system that encourages reporting and investment.
“Let’s get the British economy into the 21st century.”
His perspective is that the current tax situation merely incentivizes avoidance, while the new structure would promote compliance and situate the UK as a competitive alternative to more crypto-friendly nations like Portugal.
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Establishing a Bitcoin reserve: Farage proposed that the Bank of England should hold Bitcoin as a reserve asset, drawing comparisons to traditional gold reserves.
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Protecting crypto users from bank discrimination: Reflecting on his own experiences, he aims to legislate against banks that close accounts simply due to customers engaging in legal cryptocurrency transactions.
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Acceptance of crypto donations by Reform UK: To underscore their commitment to digital assets, Farage announced that his party is now open to receiving donations in Bitcoin, Ethereum, Solana, and USDC, with proper donor verifications in place.
The proposals are timely given the rising tensions in global markets, especially with President Trump’s recent tariff announcements. Farage’s push for a proactive crypto dialogue in national politics highlights the increasing relevance of digital assets beyond niche circles.
As the UK grapples with the potential changes, the political significance of crypto is becoming undeniable, paving the way for other parties to join the discussion.
