In a groundbreaking move, Reform UK has become the first major UK political party to accept donations via Bitcoin and other cryptocurrencies. This announcement was made by party leader Nigel Farage during his appearance at the Bitcoin Conference in Las Vegas, where he emphasized the party’s commitment to transforming the UK into a “crypto powerhouse.” The party’s website has been updated to facilitate cryptocurrency donations, ensuring compliance with Electoral Commission rules, including the prohibition of anonymous contributions.
Farage also unveiled plans for a comprehensive cryptoassets and digital finance bill. The proposed legislation aims to reduce capital gains tax on cryptoassets from 24% to 10% and establish a Bitcoin digital reserve at the Bank of England. Additionally, the bill seeks to protect cryptocurrency users from being “debanked” by financial institutions, ensuring greater financial inclusivity for digital asset holders.
This strategic move positions Reform UK as a forward-thinking party, appealing to the younger, tech-savvy electorate. By embracing digital currencies, the party not only modernizes its fundraising approach but also aligns itself with the evolving financial landscape. As the UK navigates its post-Brexit future, Reform UK’s initiative could catalyze the broader adoption of cryptocurrency in the nation’s political and economic systems.
