Nigel Farage Proposes Bitcoin Donations for UK Reform

Nigel Farage has announced that he will accept donations via Bitcoin and other cryptocurrencies.

He made his appearance at the Bitcoin Conference in Las Vegas, where he was introduced as a “British presidential candidate.” Farage stated:

He mentioned that the reforms are set to introduce crypto assets and digital finance legislation, aiming to reduce the tax on cryptocurrency transactions from 24% to 10%, thereby transforming the UK into a “crypto powerhouse.” He further noted that the cryptocurrency framework established by his party includes the “Bank of England’s Bitcoin Digital Reserve.”

Farage asserted that the new bill would prohibit banks from criticizing customers who engage in cryptocurrency trading.

On Thursday, the reform website underwent updates to facilitate cryptocurrency donations, with a disclaimer specifying that all contributions must comply with Election Commission regulations, and anonymous donations are prohibited.

During the conference, Farage referred to the acceptance of political donations in digital currencies as “innovative” and later commended the United States for being a “pioneer” in its approach to digital assets.

“My message to the British public, especially the youth, is to help guide our nation into the 21st century,” he said. “We must acknowledge that cryptocurrency and digital assets are here to stay.”

In his address, Farage criticized the inaction of previous Conservative governments concerning the current Labour government and the cryptocurrency landscape. He remarked: “Rishi Sunak delivered one speech about cryptocurrency when he was briefly Prime Minister. What has changed regarding London’s status as a global financial hub? Just one speech and nothing more.”

A spokesman for Reform UK confirmed that the party will accept cryptocurrency donations, with further details anticipated to be disclosed on Friday.

Reform UK is categorized under corporate governance as a private entity led by individuals, rather than functioning as a member-driven association like other political parties. The organization overseeing Reform UK is identified as Reform 2025, a nonprofit with just two members and two directors.