Nigel Farage is preparing to unveil one of Reform UK’s first legislative drafts at the Bitcoin 2025 conference, signaling his party’s intent to make Britain a global crypto frontrunner. The proposed bill, revealed by Bloomberg on May 29, seeks to cut taxes and establish clearer protections for digital payments.

Main Points of the Draft Legislation

• Drop crypto capital gains tax from 24% to 10%
  
• Introduce a regulatory sandbox to test crypto products
  
• Prohibit financial bias against crypto users
  

Reform aims to appeal to over 7 million UK crypto holders, especially younger voters disillusioned with traditional financial systems.

Bitcoin Framed as a Libertarian Tool

Farage will argue that Bitcoin stands for individual autonomy and financial independence—values his party says are ignored by the political mainstream.

“Crypto isn’t just a tech trend. It’s a reaction to surveillance finance and bloated bureaucracy,” Reform stated.

Break with Bank of England’s Crypto Caution

Unlike the BoE, which remains skeptical of unbacked crypto assets, Farage wants to fast-track innovation and attract investment by eliminating unnecessary restrictions.

The bill also challenges how banks and platforms handle crypto payments, calling for equal treatment.

Political Blowback Begins

Labour’s Keir Starmer has slammed the plan, likening it to risky economic experiments. However, Reform is gaining momentum in public opinion, and this crypto-forward move could increase their appeal.

UK’s Regulatory Lag Raises Concerns

While major cities like London thrive with crypto startups, delays in regulatory clarity may hurt long-term competitiveness, especially compared to the EU’s faster rollout of the MiCA framework.

FAQ

Is this bill legally binding?
Not yet. It’s a draft, but could gain traction if Reform UK expands its presence in Parliament.

Would businesses be forced to accept crypto?
No, but they wouldn’t be allowed to refuse service solely because of crypto usage.

Will this influence UK crypto law?
Yes—especially if Reform’s popularity rises and voters demand clearer crypto policy.