Leader of the UK’s Reform Party Vows Crypto Revolution in UK

Addressing the audience, Farage pledged that, if elected Prime Minister, his party would introduce a Crypto Assets and Digital Finance Bill aimed at overhauling the UK’s digital asset landscape.

The proposed legislation would include several landmark reforms: the establishment of a Bitcoin digital reserve within the Bank of England, a reduction in capital gains tax on crypto profits from 24% to 10%, and legal protections preventing banks from closing customer accounts simply for interacting with crypto exchanges or legally trading cryptocurrencies.

Farage criticized the current political establishment for its inaction. “Seven million people in Britain have got crypto assets,” he said, highlighting that this represents more than 10% of the UK’s population, with one in four people under 30 participating in the space. He accused both Labour and Conservative governments of failing to modernize, stating, “What I want to do when we win the next election is bring us into the 21st century. We are going to launch in Britain a crypto revolution.”

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The next UK general election must be held by August 15, 2029, leaving Reform with several years to build momentum. If the party secures power and the bill is enacted, Farage envisions London becoming a major global crypto trading center.

Farage also credited the Trump administration’s pro-crypto stance in the United States as a motivating factor. He praised America’s forward-thinking approach and remarked that the UK has historically lagged behind, but Reform intends to change that trajectory.

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