LAS VEGAS – May 29, 2025 — Reform UK leader Nigel Farage has set the stage for a sweeping transformation of Britain’s financial future, unveiling a bold set of cryptocurrency reforms during a surprise appearance at the Bitcoin 2025 conference in Las Vegas. His message was clear: Britain must embrace a “crypto revolution” or risk falling behind in the global race for digital finance leadership.

Farage, never one to shy away from controversy or big-picture ambition, outlined a detailed legislative proposal titled the Cryptocurrency and Digital Finance Bill, signaling what he believes should be a new era for the UK’s financial landscape—one where crypto is not just tolerated, but actively encouraged.

At the heart of Farage’s plan is a simplified, flat 10% capital gains tax on cryptocurrency profits—less than half of the current top rate of 24%. Framed as both an economic incentive and a philosophical statement, this measure is aimed at attracting crypto wealth to the UK and encouraging domestic crypto trading by removing complexity and high tax burdens.

“This is about fairness, simplicity, and making the UK a magnet for investment,” Farage said. “We need a system that works for entrepreneurs and investors, not one that chases them away.”

Even more ambitious is his proposal to establish a national Bitcoin reserve held by the Bank of England. This would place Britain among a very small group of nations—like El Salvador—that are actively integrating crypto into their sovereign financial strategies. The idea is to diversify national reserves, create long-term stability, and signal trust in the future of digital assets.

While critics warn of volatility, Farage sees Bitcoin as a long-term hedge, akin to gold. He argued the Bank of England needs to modernize its approach and reflect the direction in which the global financial system is heading.

One of the most personal and pointed aspects of Farage’s speech was his attack on the UK’s banking sector, particularly its treatment of individuals involved in crypto. Drawing on his own experience of being “debanked” in 2023—a scandal that triggered a nationwide debate—Farage said the new bill will include strict legal protections against financial institutions refusing service to people purely because of their crypto-related activities.

“Debanking is not just unfair—it’s undemocratic,” he declared. “No British citizen should be denied access to financial services simply because they own Bitcoin.”

The bill would require banks to justify any account closures or denials and bans the blanket refusal of services based on legal crypto involvement. The message: privacy and financial autonomy are not crimes.

Farage’s speech wasn’t just about domestic reform. It was about rebranding London itself.

“Post-Brexit Britain has a unique chance to break free from EU financial regulation and chart its own course,” he told a packed crowd of crypto entrepreneurs and investors. “Let’s use that freedom. Let’s make London the number one destination for cryptocurrency innovation.”

As part of that vision, Farage said Reform UK will become the first British political party to officially accept crypto donations. Contributions can now be made in Bitcoin, Ethereum, Solana, and USDC—an unprecedented step in UK politics, and one that demonstrates what he called “skin in the game.”

Additionally, the bill includes provisions for a “sandbox” system—allowing startups and fintech companies to test crypto products and services under relaxed regulations for a fixed period. According to Reform UK, this would attract global crypto talent and capital, giving the UK an edge in a competitive international landscape.

The crypto initiative is classic Farage: anti-establishment, populist, and timed to seize a gap in the political landscape. As mainstream parties like Labour and the Conservatives grapple with lukewarm or cautious stances on crypto, Farage is making it a central campaign issue—positioning digital finance not just as a technology issue, but as a matter of personal freedom and national sovereignty.

“We were late to the internet revolution. We must not miss the blockchain revolution,” he said.

It’s a message clearly resonating with a growing demographic. Over seven million Britons—many of them under 30—already hold crypto assets. Reform UK is currently polling ahead of both Labour and the Conservatives, according to recent YouGov data. Farage hopes his crypto platform will keep that momentum going.

Still, not everyone is convinced. Labour’s Rachel Reeves and other critics warned the plan risks repeating the chaos of the 2022 Liz Truss “mini-budget,” arguing that the proposed tax cuts and Bitcoin holdings could spook financial markets and hurt Britain’s global economic credibility.

Whether Farage’s crypto revolution will be realized remains to be seen. But what’s certain is that the topic is now firmly in the political mainstream. The UK, once cautious and regulatory-heavy on digital assets, is now faced with a clear and aggressive alternative.

Reform UK plans to introduce the bill as part of its official platform in the upcoming general election, potentially forcing Labour and Conservatives to respond with crypto policies of their own.

As the conference lights dimmed and Farage left the stage, his message lingered: Britain can either lead the next financial revolution—or be left behind.