Nigel Farage Proposes Strategic Bitcoin Reserve at the Bank of England
At the Bitcoin 2025 Conference in Las Vegas, Reform UK leader Nigel Farage made a striking announcement: they are preparing a legislative proposal that would establish a Strategic Bitcoin Reserve at the Bank of England. This proposal will be one of the core elements of the Crypto Assets and Digital Finance Bill that Reform UK plans to present to Parliament if the party comes to power.
The proposed bill includes not only the creation of a reserve but also significant reforms such as reducing the capital gains tax on crypto earnings from 24% to 10%, and implementing regulations to prevent banks from denying services to crypto users. Farage argues that the UK’s current financial policies are outdated and that failing to integrate with the crypto economy could leave the country far behind U.S. and Asian markets.
In his speech, Farage noted that over 7 million people in the UK own cryptocurrencies, with that figure rising to 25% among the younger population. Reform UK’s goal is to position London as one of the world’s leading hubs for crypto assets.
A First in Political Finance: Accepting Crypto Donations
Farage also announced that Reform UK is the first major British political party to accept donations in Bitcoin and other cryptocurrencies. The donation process will be facilitated through a UK-based crypto payments platform that holds a VASP (Virtual Asset Service Provider) license. This step reflects Reform UK’s vision of integrating technology into politics.
In line with Electoral Commission rules, donations will only be accepted from verified UK citizens, and all transactions will adhere to legal transparency standards.
Emphasis on Financial Freedom and Digital Sovereignty
Farage defines crypto not just as an investment vehicle but as a symbol of individual liberty and financial independence. He strongly opposes banks closing accounts of crypto users, describing such actions as “financial censorship.” The new bill explicitly aims to ban such practices.
Farage voiced strong opposition to the idea of a central bank digital currency (CBDC), saying it would only be implemented “over his dead body.” According to him, CBDCs pose serious privacy risks by allowing central authorities to monitor citizens’ spending behavior.
Farage’s proposals represent not only Reform UK’s political agenda but also a roadmap for the UK’s digital economy vision. If enacted, this legislation could position the UK as a leader in adopting and shaping the future of digital finance.
