Reform UK is aiming to redefine Britain’s role in the global crypto economy with a groundbreaking legislative proposal. The party, led by Nigel Farage, has laid out a forward-thinking plan to attract crypto investors, protect digital asset users, and empower innovation in London. With elections looming, the crypto bill is set to become a cornerstone of their campaign.
Crypto Bill Designed to Position UK as Global Leader
Reform UK’s newly proposed crypto legislation intends to slash the capital gains tax on digital assets from 24% to just 10%, giving the UK a competitive edge. At the same time, a two-year regulatory “sandbox” would offer startups a risk-free environment to test blockchain-based products under looser rules.
Perhaps most controversially, the bill would make it illegal for banks to shut down accounts based solely on their customers’ crypto activity. Reform UK claims this is essential to preserving financial freedom in an increasingly digital economy.
While the proposal is set to be officially announced at a London press event this week, its core principles were previewed at a Bitcoin conference in Las Vegas—signaling Reform’s global ambitions. The move is especially targeted at younger, tech-literate voters who feel underserved by the political mainstream.
Tapping Into a Rising Generation of Crypto Users
Data from the UK’s Financial Conduct Authority shows that around 12% of UK adults now hold cryptocurrency, with men aged 18 to 34 representing the largest demographic. Reform UK sees this audience as an untapped political base.
The party argues that neither Labour nor the Conservatives have presented a serious digital asset policy. In contrast, Reform’s crypto bill promises tax relief, institutional support, and civil protections tailored to modern financial realities.
Nigel Farage, known for his populist appeal and pro-Brexit stance, has long championed decentralization. He once likened the rise of Bitcoin to the rise of political movements challenging the status quo. In his words, Bitcoin represents a “peaceful resistance” against inflation and centralized financial control.
The Three Pillars of Reform UK’s Crypto Proposal
The crypto bill is structured around three key provisions:
- Tax Incentives: Capital gains tax on crypto profits would drop from 24% to 10%, encouraging investment and attracting blockchain businesses.
- Innovation Sandbox: A two-year pilot program would allow fintech firms to test blockchain applications with temporary regulatory relief.
- Account Protections: Banks would be barred from closing accounts solely due to legal crypto usage, preventing financial discrimination.
According to Reform UK, this framework will unlock growth, boost digital competitiveness, and empower individual investors. The party believes outdated financial regulations are stifling Britain’s tech potential—especially among younger generations seeking opportunities in the digital economy.
More Than a Protest Party?
The crypto bill marks a strategic shift for Reform UK. It’s the first time the party is putting forward a fully developed legislative initiative, underscoring their intent to transition from a protest movement into a viable governing force.
Farage’s proposal also echoes policies from former U.S. President Donald Trump, who recently embraced crypto and appointed pro-blockchain regulators. Reform UK appears to be appealing to a similar demographic: online-savvy citizens looking for alternative paths to financial independence.
With crypto adoption rising and regulatory frustration mounting, the party believes the timing is perfect. Whether the bill becomes law depends entirely on the election outcome—but it has already pushed crypto to the forefront of the national conversation.
