Reform UK Pioneers Cryptocurrency Donations
Reform UK has become the first political party in the United Kingdom to accept donations in bitcoin and other cryptocurrencies, as announced by Nigel Farage during an appearance at the Bitcoin Conference in Las Vegas. Farage revealed that Reform UK had updated its website to facilitate cryptocurrency donations from eligible UK donors, describing this move as an “innovative” step in British politics. He encouraged the British public, especially young people, to embrace the permanence of crypto and digital assets.
The former leader of UKIP and the Brexit Party introduced his party’s Cryptoassets and Digital Finance Bill, which proposes reducing capital gains tax on cryptoassets from 24% to 10%. Farage also suggested establishing a bitcoin digital reserve within the Bank of England and vowed to implement legal protections against banks “debanking” individuals involved with cryptocurrency.
Addressing the conference, where he was presented as a “UK presidential candidate,” Farage expressed his vision to transform the UK into a “crypto powerhouse,” contrasting this ambition with what he perceives as the inaction of both the current Labour government and former Conservative administration. Farage criticised the brief tenure of Rishi Sunak as prime minister, commenting on the lack of substantial initiatives despite Sunak’s solitary speech on crypto. He also pointed out that none of Labour’s cabinet members have experience in the private business sector.
Reform UK’s website now includes a page for cryptocurrency donations, emphasising compliance with Electoral Commission rules, which prohibit anonymous contributions. A spokesperson for the party confirmed that further details about cryptocurrency donation processing would be released shortly.
Farage’s announcement marks a transformative move in UK political fundraising and policy, positioning Reform UK as the nation’s most crypto-friendly party. This development occurs amidst escalating global interest in blockchain-based finance, which is met with both enthusiasm from investors and regulatory challenges from governments.
Distinct from traditional UK political parties, Reform UK is registered as Reform 2025 Ltd—a not-for-profit private company co-managed by Farage and director Zia Yusuf. This structure grants Farage considerable control over the party’s direction and funding.
With increasing support for Farage’s party indicated in some constituencies, and a general election anticipated within the next 18 months, this initiative could herald a more prominent role for cryptocurrency in UK political discourse.
Read more: [Reform UK becomes first British political party to accept Bitcoin donations, says Farage](https://bmmagazine.co.uk/news/reform-uk-first-political-party-accept-bitcoin/)
