The post Nigel Farage Pledges to Slash Crypto Capital Gains, Force UK Bitcoin Reserve appeared on BitcoinEthereumNews.com.

In brief UK politician Nigel Farage pledged this week to pass a pro-crypto bill if made prime minister. Farage said he would slash crypto capital gains taxes and force the Bank of England to establish a Bitcoin reserve if elected. He also promised to end crypto-related debanking in Britain, which he argued remains a massive threat. Nigel Farage, the leader of Britain’s right-wing Reform Party, is going all-in on crypto—and used an appearance at Bitcoin 2025 this week to showcase his coalition’s new emphasis.  Onstage Thursday at the annual Bitcoin conference, which this year took place in Las Vegas, Farage pledged to prioritize crypto should he become prime minister after the UK’s next general election in 2029.  During the appearance, the British politician waved a printed copy of a new piece of legislation, dubbed the Crypto Assets and Digital Finance Bill, that he pledged to pass if voted into power. “We will campaign for this and we will put it in place when we win the next general election,” Farage said to a cheering crowd of Bitcoiners. “And what we’re saying is: Bring crypto and digital assets in from the cold.” The bill, per Farage, would slash capital gains taxes on crypto to 10% (down from the current maximum of 24%); obligate the Bank of England to establish a Bitcoin reserve; and outlaw British banks from denying services to customers based on their involvement with crypto and the crypto industry.  Such alleged practices, dubbed “debanking,” have become a point of mutual sympathy between crypto users and right-wing political figures in recent months. Crypto industry leaders have long argued they have been denied banking services based on their affiliation with the sector, a claim that has been validated by government disclosures. Similarly, figures including Eric Trump in the United States and…

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Filed under: News - @ May 31, 2025 12:19 am