Farage Makes a Bold Pitch for Crypto Votes
Nigel Farage, the outspoken leader of Reform UK, is staking his political comeback on a promise to deregulate Britain’s crypto sector and make the country “a global trading center once again”. Speaking at DAS London, Farage unveiled his party’s ambitious Cryptoassets and Digital Finance Bill, which he says will slash taxes, boost innovation, and end banking discrimination against lawful crypto users.
Farage’s plan echoes Donald Trump’s 2024 crypto pledge in the U.S., which galvanized digital asset supporters and helped fuel his White House bid. The Reform UK leader now hopes to capture a similar wave of enthusiasm among British crypto investors and entrepreneurs.
A “Cryptoassets and Digital Finance Bill”
Under the draft bill, Farage proposes to cut capital gains tax on crypto to 10%, establish a Bitcoin reserve at the Bank of England, and ban account closures targeting individuals engaged in legal digital asset activities.
He argued that the current tax regime and hostile banking environment have driven both money and talent abroad.
The Reform UK leader accused both Conservative and Labour governments of “neglecting the financial services sector” calling them responsible for Britain’s economic stagnation. His message was clear: crypto deregulation is economic revival.
Riding High in the Polls
Farage’s speech comes as Reform UK continues to climb in national polls, in some cases surpassing Labour in key voter segments. His campaign has heavily leaned on populist themes - from immigration control to economic sovereignty - with crypto now added to the mix.
In May 2025, Farage was introduced as a “UK presidential candidate” at the Bitcoin 2025 conference in Las Vegas, where he unveiled the first draft of his bill and promised a “crypto revolution” to make London a “major trading center.”
During that speech, he praised the U.S. under Donald Trump as “fantastic” and lamented Britain’s regulatory stagnation, saying he would “end the UK’s anti-innovation mindset.”
Shifting UK Regulatory Landscape
Farage’s crypto push coincides with growing regulatory activity in Britain’s financial sector. In September, UK and U.S. officials announced the formation of a joint task force aimed at harmonizing crypto regulations and strengthening cross-border capital markets. The task force is expected to report findings within 180 days to both governments.
Meanwhile, the Bank of England is taking a firmer stance on stablecoins, with Governor Andrew Bailey arguing that major UK-issued stablecoins should “have access to Bank of England accounts” to cement their legitimacy as money.
This evolving environment creates a backdrop where Farage’s deregulatory stance could sharply contrast with the central bank’s tightening grip - potentially setting the stage for a major political debate over crypto’s future in Britain.
Echoes of Trump’s Crypto Populism
Much like Trump’s 2024 campaign, Farage is tapping into crypto’s anti-establishment energy, positioning himself as the defender of innovation against bureaucratic overreach. His fiery rhetoric and pro-crypto proposals may well rally Britain’s growing Web3 community — especially amid frustration with slow regulatory progress.
Whether it’s a winning political formula remains to be seen, but one thing is certain: crypto just became a campaign issue in the UK.
