Catenaa, Sunday, October 19, 2025- Reform UK leader Nigel Farage pledged to slash crypto taxes and create a national Bitcoin reserve if elected, presenting himself as the industry’s “champion” at the Digital Asset Summit in London on Monday.
The proposed legislation would cut the capital gains tax on crypto investments from 24% to 10% and require the Bank of England to establish a Bitcoin reserve using roughly £5 billion in assets seized from criminal activity.
Farage’s platform also allows taxpayers to pay taxes directly in Bitcoin, with proceeds either converted to pounds or directed to the reserve.
Addressing longstanding industry concerns, the bill would prohibit banks from closing or denying accounts based on lawful crypto activity, a problem Farage cited from his personal experience attempting to open bank accounts.
He described the Bank of England’s central bank digital currency plan as “the ultimate authoritarian nightmare” and promised to halt it if elected.
Farage criticized proposed stablecoin holding limits, which cap personal holdings at £10,000–£20,000 and business holdings at £10 million, calling them “frankly ridiculous” and said he had discussed them with Governor Andrew Bailey.
He argued that the UK risks falling behind international competitors, including the US and EU, in attracting crypto business.
Reform UK currently leads in polling projections, though Britain’s first-past-the-post system could limit parliamentary representation.
The next general election is not expected until 2029, leaving ample time for market and political conditions to evolve.
