Nigel Farage: Crypto Advocate for the UK – Reform Head Asserts “I am Your Advocate”
The leader of Reform UK, Nigel Farage, has redirected his attention from vanquishing political rivals to reaching out to British cryptocurrency investors, proclaiming, “I am your champion.” This strategy aligns with the individual believed to be the UK’s next Prime Minister, mirroring President Trump’s tactics in securing electoral backing from digital asset supporters.
In comments made yesterday (October 13) at the Digital Asset Summit in London, Farage promoted his initiatives to establish a state-funded Bitcoin
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reserve as well as his envisioned digital currency legislation, which aims to reduce capital gains tax and permit tax payments using crypto.
If @Nigel_Farage triumphs in the upcoming election, “we will bring crypto into the mainstream” pic.twitter.com/udoA6grCf1
— Digital Asset Summit 2025 (@blockworksDAS) October 13, 2025
Nigel Farage’s Cryptocurrency Plans Target Bank of England’s Digital currency Initiatives
“In terms of your sector, regarding growth within this space, I stand as your champion,” he declared to attendees at the conference on Monday. “We will decisively reintegrate crypto into the financial ecosystem.”
Farage also voiced opposition to the Bank of England’s intentions regarding central bank crypto asset. The BoE is considering a token that would function akin to digital currency, a plan Farage called “a complete authoritarian nightmare.”
If his Reform Party gains a victory in the next general election, he pledged to “halt it immediately.” Additionally, he criticized the current Prime Minister, Sir Keir Starmer, for his controversial digital ID initiatives, asserting that they would grant the government excessive control over citizens. Similarly, Trump has prohibited the development of a central bank cryptocurrency in the US.
Farage remarked that the Bank of England’s suggested cap on individual and corporate ownership of stablecoins is “simply ludicrous.” He noted having discussed this concern with the governor of the Bank of England, Andrew Bailey.
Attracting crypto aficionados in the UK is likely to result in a substantial increase in Reform UK’s membership, which currently stands at 260,000. Membership has already seen significant growth in 2025, indicating the party’s mounting influence, and onboarding the British crypto community could help it surpass Labour this year.
(SOURCE: Reform UK)
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Potential Return of Numerous Crypto Businesses That Departed the UK Due to Strict Regulations
UK regulatory bodies are facing pressure from cryptocurrency proponents to adopt a more open stance on digital assets, especially as Trump has embraced this sector and the EU has implemented a unified regulatory framework for crypto under the MiCA guidelines.
Many crypto enterprises operate or maintain offices in the UK, including exchanges such as Coinbase, MoonPay, and Kraken, as well as crypto market makers like B2C2 and GSR. Yet, a considerable number have abandoned the UK because of vague and draconian regulations, opting for locations in the Middle East, Cyprus, Malta, and in some instances, even farther away.
Farage’s appeal to British cryptocurrency investors reflects Trump’s strategy, who addressed a Bitcoin conference prior to last year’s US election, which turned out to be a significant success and a crucial moment in his historic election victory.
The Reform UK party, currently making significant strides in the polls, is the only major British political entity that accepts cryptocurrency donations, further indicating the party’s acknowledgment of a technology that is here to remain.
The next general election is predicted to take place in 2029. At present, Farage is anticipated to become the UK’s next Prime Minister, as per YouGov data, showing that 27% of surveyed individuals intend to vote for Reform, outpacing Labour by 10 percentage points, with only 17% supporting Labour.
(SOURCE: YouGov)
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Nigel Farage’s Crypto asset Initiatives: Reform Bill Seeks to Create National Bitcoin Reserve
The Reform UK crypto legislation aims to establish a national Bitcoin reserve fund utilizing approximately £5bn worth of BTC that has been confiscated by the government from criminal activity.
The party also proposes a flat 10% capital gains tax rate on cryptocurrency profits, instead of basing it on activity type and an individual’s earnings.
To stimulate innovation, Reform has suggested initiating a two-year regulatory sandbox. This would allow a Distributed ledger Financial Services Sandbox to be available to large financial firms and selected companies, providing temporary relief from certain regulations while still maintaining essential AML/CTF protections.
Such a move would allow London to reclaim its status as a global financial hub, suitable for the digital age. Regulating authorities must publish their findings and suggest permanent reforms within 90 days after the sandbox concludes.
An essential element of Farage’s crypto bill states that banks and payment services will be prohibited from refusing or withdrawing services based solely on a customer’s dealings in legal crypto assets. It will be the bank’s responsibility to demonstrate that any refusal is based on legitimate, non-crypto reasons.
This legislation ensures that no bank can refuse service to an individual merely for wanting to own, trade, or transact in crypto. Currently, many prominent banks in the UK are outright declining to approve transactions related to legitimate digital currency exchanges, and in some cases, account closures have occurred due to lawful connections to digital assets.
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The article Nigel Farage Crypto Saviour for the UK: Reform Leader Declares “I am Your Champion” first appeared on 99Bitcoins.
