Great Britain: State Bitcoin reserve and London as a cryptocento center?
- Michael Farage’s Party Reform UK wants a Bitcoin reserve and a reduction in crypto tax in the event of a victory in the next British parliamentary elections.
- She wants to make London a global crypto center with new financial laws.
The “Reform Party”, led by Nigel Farage, wants to create a British Bitcoin reserve and reduce capital gains on cryptocurrencies if it wins the next parliamentary elections. Farage announced plans for a “Crypto Assets and Digital Finance Bill” to bring the United Kingdom into the “crypto revolution”.
Reform UK is the first Britain political party to accept donations in Bitcoin and other cryptocurrencies. Surveys show that the party is 29% of the votes in front of Labor and the Tories.
The crypto policy of reform UK
At the Bitcoin 2025 conference in Las Vegas, Nigel Farage unveiled the plan to introduce legislation to support the crypto sector. There should be a digital bitcoin reserve at the Bank of England.
Farage wants to reduce capital gains tax on cryptocurrencies from 24 % to 10 %. The draft law stipulates that banks are no longer allowed to close customer accounts due to crypto transactions or stocks. Farage said that over seven million people in Great Britain have crypto assets, one of four under 30 years. He said that the current governments ignore the crypto sector and promised to modernize British politics. The draft law of the reform will work for these changes and implement them if the party wins the next parliamentary elections that will be held in August 2029 at the latest.
The party is the first to accept Bitcoin and other cryptocurrency donations in British politics. This is followed by the US presidential election campaign 2024, in which the candidates accepted crypto donations. Farage said the attitude of the Trump administration to cryptocurrencies was “fantastic” and the United Kingdom had remained in crypto policy.
Political context and party growth
Reform UK emerged from the Brexit Party in 2018, founded by key characters from the UK Independence Party, including Nigel Farage. The party was renamed in 2021 and has achieved strong results in local and mayoral elections since then. According to the survey data From Statista, the reform party is 29%in the intention of election, before Labor with 22%and the Tories with 17%.
Farage admitted that it was difficult to overcome the traditional dominance of Labor and the conservatives in parliamentary elections. However, he is convinced that the growing number of members of the reform party, which is now the second largest in the United Kingdom after the Labor party, could be reflected in a national success. Farage emphasized his background as a raw material dealer and media moderator to strengthen his credibility as a potential prime minister.
It is noteworthy that neither the Labor Party nor the conservative cryptocurrencies mentioned in their election programs for 2024. The reform stands out through its public commitment to cryptopolitics. The current Labor government announced plans to clarify crypto regulation and to develop the United Kingdom as a “web3 hub” for 2023.
Great Britain’s crypto scene and the future prospects
With 61,245 BTC worth $ 6.4 billion, Great Britain is third in the world in the state Bitcoin stocksonly behind China and the USA. Farage said that cryptocurrencies in the United Kingdom will be accepted by the general public and that the UK London reform would make a global cryptocentrum.
He described Bitcoin as a symbol of individual sovereignty and freedom of state control, in contrast to “globalist structures” like the EU. The crypto suggestions of the reform are about promoting innovations and the protection of the rights of the individual.
Although the legislative promises of reform have been removed from a choice for years, the announcement of a law on crypto assets and digital finances means that the party is pushing for a modernization of British crypto policy. This includes tax cuts, financial protection for crypto users and the formal inclusion of Bitcoin in the national reserve.
The fact that the party accepts crypto donations also fits the global trends in political fundraising. As CNF reported, a political campaign committee in the United States collected $ 7.5 million in cryptocurrency during the 2024 presidential campaign.
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