Nigel Farage Vows to Turn UK into Global Crypto Hub with Bitcoin Reserve and Pro-Crypto Laws

Reform UK leader Nigel Farage announced bold plans to position the United Kingdom as a global leader in cryptocurrency. Speaking at the Bitcoin Conference in Las Vegas, Farage revealed his party’s intent to introduce the "Crypto Assets and Digital Finance Bill" if it wins the next general election.

The proposed legislation includes several pro-crypto measures aimed at fostering innovation and attracting investment. These include banning banks from debanking individuals over crypto usage and implementing a flat 10% capital gains tax on digital assets. Farage emphasized that reasonable tax policies would encourage compliance, stating, “If taxes are reasonable, people will pay them.”

In a surprising move, Farage also pledged to establish a bitcoin reserve at the Bank of England, framing it as part of a broader strategy to modernize the UK’s financial infrastructure. Rejecting the idea of a British central bank digital currency (CBDC), he positioned himself firmly against government-controlled digital money, reflecting widespread privacy concerns in the crypto community.

“We’re going to launch, in Britain, a crypto revolution. We’re going to make London one of the major trading centers of the world. We’re deadly serious,” Farage declared, signaling an ambitious vision for the UK’s role in the digital asset space.

Reform UK, which recently gained traction in local elections, also announced it would become the first political party in Europe to accept cryptocurrency donations—further aligning its campaign with the growing crypto movement.

With the general election scheduled for August 2029, Farage’s crypto-friendly platform could reshape the UK’s regulatory landscape and bolster London’s status as a digital finance hub. His proposals aim to attract global crypto businesses and investors by offering regulatory clarity, financial incentives, and a firm rejection of CBDCs.