Farage tells US cryptocurrency conference he wants a ‘Bitcoin digital reserve in the Bank of England’
Reform UK are now accepting donations in Bitcoin and other cryptocurrencies, Nigel Farage has announced, saying they would be the first political party in Britain to do so.
The Clacton MP also said his party had drawn up a Crypto Assets and Digital Finance Bill, which they would put into effect if they won the next general election.
Speaking at the Bitcoin Conference in Las Vegas on Thursday, Farage said: “As of now, provided you are an eligible UK donor (…) we are the first political party in Britain that can accept donations in Bitcoin and other cryptocurrencies.”
“Once again, we’re being innovative,” he added.
The Reform UK website now has a “Crypto” section under which it says people can make a donation using cryptocurrency.
There is also a disclaimer stating that all donations are subject to Electoral Commission rules and that anonymous donations are not permissible.
The page says: “As the UK government seeks greater control over everyday life … we stand firmly in support of the continued use of cash and decentralised cryptocurrencies.”
Speaking at the US event, Farage pledged that his party would “launch in Britain a crypto revolution” and make London “one of the major trading centres of the world”.
Announcing the crypto legislation that his party have drawn up, he also said “we’re going to have a Bitcoin digital reserve in the Bank of England”.
Cryptocurrencies such as Bitcoin have increased in popularity in recent years, with research suggesting around 12% of adults in the UK own or have owned cryptoassets, up from 4% in 2021.
Last month, Chancellor Rachel Reeves announced plans to regulate cryptoassets in a bid to make the UK a “world leader”.
She told a fintech conference that she would back the builders as she announced plans to make crypto firms subject to regulation in the same way as traditional finance companies.
Additional reporting by the Press Association