Nigel Farage wants to create a UK Bitcoin reserve and reduce crypto tax

• Reform UK wants Bitcoin reserves at the Bank of England
• Farage proposes cutting crypto taxes from 24% to 10%
• Reform Party accepts donations in Bitcoin and other cryptocurrencies

During the Bitcoin 2025 conference in Las Vegas, Nigel Farage, leader of Reform UK, announced an ambitious proposal: to create a strategic reserve of Bitcoin at the Bank of England. The measure is part of a Crypto Assets and Digital Finance Bill that will be defended if the party wins the general election, scheduled for 2029.

Let's get the British economy into the 21st century.

Read Reform UK's Cryptoassets and Digital Finance Bill. 🇬🇧

➡️ https://t.co/5QytUV1p1V pic.twitter.com/pfqdAxhHPe

— Nigel Farage MP (@Nigel_Farage) May 30, 2025

Farage has promised to cut capital gains tax from 24% to 10% and make it illegal to close bank accounts based on cryptocurrency use. He says the aim is to modernize the country and make London one of the world's leading crypto trading hubs.

In his speech, Farage noted that more than 7 million Britons own crypto, equivalent to more than 10% of the population. Among young people under 30, that number rises to one in four. The reformist leader accused the Labour and Conservative parties of neglecting the sector and said he intends to launch a “crypto revolution” in the country.

Reform UK has also become the first British party to accept donations in Bitcoin and other cryptocurrencies. Farage said that any eligible donor in the UK will be able to contribute in crypto, calling the move a step towards innovation.

Voting intentions indicate that the party has 29% of popular support, surpassing Labour with 22% and the Conservatives with 17%. Even so, the British majoritarian electoral system poses challenges for emerging parties.

The United Kingdom already holds the third largest known reserve of BTC held by governments, with 61.245 units, behind only China and the United States. However, the British Treasury has stated that it has no current plans to adopt an official Bitcoin reserve.

Farage also criticised the possible creation of a central bank digital currency (CBDC), saying it would only be implemented “over his dead body”, citing risks of excessive state control.

After reporting having been debanked by ten institutions, the politician reinforced that the bill also aims to protect the individual financial freedom of citizens who operate with cryptocurrencies.