In a groundbreaking move, Reform UK has announced that it will start accepting cryptocurrency donations, making it the first political party in Britain to do so. The announcement was made on Thursday, May 23, 2025, by party leader Nigel Farage during a speech at a Bitcoin Conference in Las Vegas.
The decision is part of a broader campaign by Reform UK to position the United Kingdom as a global hub for digital finance and blockchain innovation. However, the move has also raised red flags among experts concerned about the transparency and traceability of political donations made through crypto.
“Crypto is Here to Stay,” Says Farage
Farage, who recently returned to Parliament as the MP for Clacton, delivered a passionate address to the international crypto community in Las Vegas. He called on the British public, especially younger generations, to embrace the shift toward digital assets.
“My message to the British public, my message particularly to young people, is help us to help you bring our country properly into the 21st century,” he said.
“Let’s recognise that crypto, Bitcoin, digital assets, are here to stay.”
He also used the stage to introduce the Cryptoassets and Digital Finance Bill, a legislative proposal he described as a “bold, post-Brexit roadmap” to turn London into a world-leading crypto trading hub.
A Radical Crypto Policy Platform
Reform UK’s announcement goes far beyond donations. The party is proposing an entire suite of crypto-friendly tax and finance reforms, aimed at positioning Britain as a leading destination for blockchain innovation and investment.
On Friday, May 24, Reform UK Chairman Zia Yusuf outlined further policy goals, stating that the party would allow taxes to be paid in Bitcoin if it came into power.
In addition, Reform UK pledges to:
- Cut capital gains tax (CGT) on crypto assets like Bitcoin to 10%
- Encourage foreign crypto holders to relocate assets to the UK
- Raise up to £1 billion for the Treasury over the next 10 years
Currently, crypto assets in the UK are subject to CGT rates of 18% or 24%, depending on the taxpayer’s income bracket. Reform’s plan would nearly halve that tax rate, signaling a dramatic shift in how digital wealth is treated in the UK.
Expert Warnings on Crypto Donations
While the announcement has energized supporters of cryptocurrency and digital innovation, it has also triggered warnings from financial oversight experts.
Steve Goodrich, a financial crime analyst, expressed concern over the potential for anonymous and untraceable donations entering British politics.
“The anonymity offered by digital currencies makes it nearly impossible for political parties to have confidence in their donors’ identities,” he told Politico’s Playbook.
“This risks widening a loophole that could allow unlimited anonymous donations to flow into British politics.”
Under current UK laws, political donations must be traceable and declared, particularly to prevent foreign influence and illegal contributions. The use of cryptocurrencies, especially those like Bitcoin or privacy-focused coins, makes identity verification more difficult.
Growing Public Interest in Crypto
Despite the concerns, the UK public is steadily embracing cryptocurrencies. Research shows that approximately 12% of adults in the UK now own or have previously owned cryptoassets, a significant rise from just 4% in 2021.
This rapid growth has caught the attention of politicians across the spectrum. Just last month, the UK Chancellor of the Exchequer announced plans to introduce new regulations for cryptoassets, aiming to turn Britain into a global leader in digital finance.
Reform UK’s proposals go a step further, offering a regulatory and tax environment designed not just for oversight but for active attraction of crypto capital and businesses.
Reform UK’s Broader Strategy
The party’s push into crypto policy is part of a broader post-Brexit vision for the UK economy. By reducing regulatory burdens and embracing financial technologies, Reform UK wants to differentiate Britain from the European Union and re-establish it as a financial powerhouse.
Farage and Yusuf argue that encouraging crypto innovation could bring new jobs, capital, and infrastructure to cities like London, Manchester, and Birmingham.
Critics, however, warn that such moves could invite illicit money, reduce financial transparency, and pose money laundering risks if not properly monitored.
Political Implications
By embracing cryptocurrency, Reform UK is carving out a unique political niche, distinguishing itself from both the Conservative and Labour parties, neither of which currently accept crypto donations or propose such radical reforms in the sector.
As the UK moves toward a general election expected in 2026, the party hopes to use this policy to gain traction with younger, tech-savvy voters and those frustrated with traditional financial systems.
Whether or not this gamble pays off at the polls remains to be seen, but it has certainly reignited the debate over how Britain should navigate the future of money.
Conclusion
Reform UK’s decision to accept cryptocurrency donations marks a historic first in British politics, and its wider proposals signal a bold shift toward digital finance. While some see it as a visionary step into the future, others warn of the regulatory and ethical dangers posed by anonymous digital money in political systems.
As crypto adoption continues to rise and regulation struggles to keep pace, this move by Nigel Farage and Reform UK could reshape the political and financial landscape of the UK for years to come.
