Reform UK, led by Nigel Farage, has broken new ground by announcing that it will accept political donations in Bitcoin and other cryptocurrencies. This marks a first for UK politics. The party made this known at the Bitcoin Conference in Las Vegas on May 29, 2025. This further deepens the existing steps Digital Britain aims to take in integrating digital assets into the political and financial systems of the United Kingdom.
A New Era of Political Fundraising
This represents a shift from traditional fundraising. Once the website was updated, supporters of the party could contribute using Bitcoin or any other digital currency, as long as they met eligibility under UK electoral law. Farage stated:
“We are the first political party in Britain that can accept donations in Bitcoin and other cryptocurrencies.”
This initiative is more than symbolic; it’s a strategic effort to engage younger voters and tech-savvy donors who increasingly hold digital assets. With estimates suggesting around seven million Britons own cryptocurrencies, many under the age of 30, this move positions Reform UK to resonate with that growing demographic.
Farage’s Vision: A Crypto-Forward UK
Alongside the donation announcement, Farage introduced a legislative proposal titled the Crypto Assets and Digital Finance Bill. If elected, Reform UK pledges to:
- Lower capital gains tax on cryptocurrencies from 24% to 10% to encourage investment and innovation.
- Prevent banks from closing accounts solely due to cryptocurrency activity, addressing “debanking” concerns.
- Oppose the introduction of a UK Central Bank Digital Currency (CBDC), emphasizing financial privacy and freedom.
- Establish a Bitcoin reserve at the Bank of England to signal national confidence in digital assets.
Farage linked these goals to a broader “crypto revolution” aiming to position London as the world’s leading digital finance hub, alongside competitors like the U.S. and Switzerland.
Industry and Regulatory Context
This announcement arrives amid ongoing debate over cryptocurrency regulation in the UK. Shadow Chancellor Rachel Reeves has proposed that crypto firms should operate under a framework similar to traditional financial services, aiming to protect investors and ensure market stability. Meanwhile, some MPs argue that crypto assets are too risky and should be treated like gambling—an idea the Treasury has rejected.
Experts have expressed mixed reactions to Reform UK’s crypto donation policy. While it is praised as innovative and inclusive, concerns persist about transparency and the risk of anonymous donations. Financial crime analysts warn that the decentralized nature of cryptocurrencies could create oversight challenges in political finance.
Reform UK’s embrace of crypto marks a deliberate step to modernize political engagement and appeal to digital-native voters. It also aligns with Farage’s ongoing advocacy for cryptocurrencies, dating back to 2020 when he described Bitcoin as an “anti-lockdown investment” and a hedge against fiat currency risks.
Still, this move raises questions about whether current regulations are sufficient and how to balance innovation with accountability. As digital assets become more integrated into politics, the UK must craft policies that support innovation while safeguarding democratic transparency.
Looking Ahead
The next UK general election is not due until 2029, giving Reform UK time to distinguish itself from mainstream parties through its crypto-friendly platform. Whether this strategy leads to electoral gains or regulatory change remains uncertain. What’s clear is that this development marks a shift in how cryptocurrencies intersect with political finance and governance in Britain.
Reform UK’s acceptance of Bitcoin donations and its broader crypto agenda highlight the growing influence of digital assets and signal a change in the landscape of political fundraising and policy.
