Farage Demands Bitcoin as National Reserve Asset—Slams ’Outdated’ Crypto Banking Bans
Brexit firebrand Nigel Farage just dropped a financial grenade: the UK should hold Bitcoin in its reserves and stop blacklisting crypto firms from banking services.
No more ’debanking’—just digital sovereignty.
His pitch? Embrace volatility or get left behind—while traditional finance clings to its spreadsheets like a security blanket.
Slashing Crypto Tax to 10 Percent
Let’s start with the part that grabbed everyone’s attention. Farage wants to cut capital gains tax on crypto profits from as high as 24 percent down to a flat 10 percent. His reasoning? The current tax setup just pushes people to avoid reporting or move their money to places with better rules.
Let’s get the British economy into the 21st century.
Read Reform UK’s Cryptoassets and Digital Finance Bill.
https://t.co/5QytUV1p1V pic.twitter.com/pfqdAxhHPe
— Nigel Farage MP (@Nigel_Farage) May 30, 2025
He says this isn’t about helping the wealthy skirt taxes. It’s about making the system easier to follow so people actually follow it. It’s also a signal that the UK should stop pushing innovation out the door and start competing with countries like Portugal, which already treat crypto more favorably.
A Bitcoin Reserve? You Heard That Right
Farage also floated the idea of creating a Bitcoin reserve at the Bank of England. That’s not something you hear from many mainstream politicians, especially in the UK. But in his view, it makes sense.
He pitched it as a modern financial hedge. Just like central banks hold gold, why not hold a little Bitcoin? Countries like El Salvador have already gone down that path. Farage wants Britain to be next.
Taking On the Banks
This part came with some personal fire. Farage recalled when his bank account with Coutts was shut down in 2023, and said thousands of people dealing with crypto have faced the same treatment.
His bill WOULD make it illegal for banks to discriminate against legal crypto users. If your money’s clean and your activity’s legal, banks shouldn’t be allowed to lock you out. He’s turning his own experience into policy, and that could resonate with a growing number of voters who have run into the same walls.
Reform UK Gets the Crypto Treatment
To prove he’s serious, Farage also announced that Reform UK is now accepting crypto donations. Bitcoin, Ethereum, Solana, and even USDC are all fair game. Their site is already set up to handle it, and they’re sticking to election laws by requiring full donor verification.
Zia Yusuf, the party chairman, added that they’re exploring the idea of letting people pay taxes in crypto and even creating a sovereign wealth fund backed by digital assets. It’s ambitious, but the signal is clear. They’re not treating crypto as a gimmick. It’s baked into their platform.
Right Time, Right Topic?
With Trump accusing China of breaking trade agreements and threatening new tariffs, markets are already on edge. Farage’s crypto-first pitch landed in the middle of all that, as more people start to look for alternatives to traditional finance.
Whether or not the UK follows through with any of this, the fact that crypto is now a talking point in national politics says a lot. Farage is forcing the conversation, and other parties might soon have to respond. Crypto is no longer just for techies and traders. It’s officially on the political menu.
Key Takeaways
- Nigel Farage unveiled a sweeping “Crypto Assets and Digital Finance Bill” proposing lower taxes, a Bitcoin reserve, and stronger protections for crypto users.
- He wants to slash capital gains tax on crypto from 24% to 10%, aiming to make the UK more competitive with crypto-friendly nations.
- Farage proposed the Bank of England hold Bitcoin in reserve, calling it a modern hedge similar to gold.
- The bill would ban banks from closing accounts based on legal crypto activity, inspired by Farage’s own banking experience.
- Reform UK is now accepting crypto donations, reinforcing its commitment to digital assets as a core campaign issue.
