Reform UK has officially become the first political party in Britain to accept donations in Bitcoin and other cryptocurrencies, according to party leader Nigel Farage.
Speaking at the Bitcoin Conference in Las Vegas, Farage revealed the new fundraising approach, emphasising that all donors must be eligible under UK electoral rules.
Reform UK’s website has since been updated to facilitate cryptocurrency donations, with a clear notice that anonymous contributions remain prohibited in line with Electoral Commission regulations.
Farage also unveiled the party’s proposed cryptoassets and digital finance bill. If passed, the legislation would significantly cut capital gains tax on cryptoassets from 24% to 10%, aiming to position the United Kingdom as a leading global hub for digital finance.
The draft bill also proposes the establishment of a Bitcoin digital reserve within the Bank of England.
A key component of the proposed legislation would prevent banks from closing the accounts of customers who engage in cryptocurrency trading or usage. Reform UK believes such protection is essential for encouraging innovation and financial freedom.
During his speech, Farage criticised both the current Labour government and the former Conservative administration for their lack of engagement with the digital finance sector.
He pointed out that previous Prime Minister Rishi Sunak made only a single speech on cryptocurrency and did not follow up with concrete action. He also highlighted the absence of private-sector experience among current Labour cabinet ministers.
Farage described the move to accept cryptocurrency donations as a forward-thinking step and encouraged younger generations to support the party’s mission to modernise the country’s financial landscape. He stressed that crypto and digital assets are now a permanent part of the global economy and that Britain must adapt to remain competitive.
A spokesperson for Reform UK confirmed that further details regarding crypto donations would be released on Friday.
Reform UK is registered at Companies House as a private entity. It is not a traditional members’ association like most other British political parties. The party is owned by Reform 2025, a not-for-profit company controlled by Farage and fellow director Zia Yusuf.
