TLDR

Reform UK becomes first major British political party to accept Bitcoin and cryptocurrency donations
Party leader Nigel Farage announced the move at Bitcoin 2025 conference in Las Vegas
Reform plans to introduce a “Cryptoassets and Digital Finance Bill” if they win next election
Party proposes establishing a Bitcoin reserve at Bank of England and opposes UK CBDC plans
Reform currently holds just 5 seats compared to Labour’s 403 in House of Commons

Reform UK has become the first major British political party to accept Bitcoin and cryptocurrency donations. Party leader Nigel Farage made this announcement at the Bitcoin Conference in Las Vegas on May 29.

The party is using crypto payments provider Radom to facilitate these donations. This makes Reform UK the first major group to accept crypto contributions compared to the Conservative and Labour parties, who hold most seats in the UK’s House of Commons.

“As of now, we are the first political party in Britain who can accept donations in Bitcoin and other cryptocurrencies,”

Farage said during his conference appearance. He added that eligible UK donors can now contribute using digital assets.

The Reform UK website now allows visitors to make cryptocurrency donations. The site includes a disclaimer stating that all donations must follow Electoral Commission rules and anonymous donations are not allowed.

Farage used the conference platform to discuss his experiences with being debanked in the UK in 2023. He also outlined Reform’s plans for cryptocurrency policy if the party gains control of government.

Proposed Cryptocurrency Legislation

Reform UK has drafted a “Cryptoassets and Digital Finance Bill” that would be introduced if the party wins the next general election. The UK’s next general election is expected before August 2029.

The proposed legislation includes plans to establish a Bitcoin reserve at the Bank of England. Reform also opposes any plans to introduce a central bank digital currency (CBDC) in the UK.

Farage pledged that his party would “launch in Britain a crypto revolution” and make London “one of the major trading centres of the world.” He emphasized that the party wants to bring Britain “properly into the 21st century.”

Current Political Landscape

Reform UK currently holds five seats in the House of Commons after the July 2024 election. This represents a large gap compared to Labour’s 403 seats and the Conservatives’ 120 seats.

Despite their limited parliamentary presence, Reform is positioning itself as an innovative party on cryptocurrency issues. Farage stated that “once again, we’re being innovative” when announcing the donation policy.

The party leader cited statistics showing that seven million people in Britain have crypto assets. He noted that one in four people under 30 own cryptocurrency.

UK Government’s Crypto Stance

The current Labour government has proposed rules to position the UK as a “safe harbor” for crypto innovation. Chancellor Rachel Reeves announced plans to regulate crypto assets in a bid to make the UK a “world leader” in the sector.

These proposed regulations would treat crypto exchanges, dealers, and agents similarly to traditional financial firms. The framework aims to provide regulatory clarity for the cryptocurrency industry.

Research suggests that around 12% of adults in the UK own or have owned crypto assets. This figure has increased from 4% in 2021, showing growing adoption of digital currencies.

The UK’s Financial Conduct Authority has also requested public comments on stablecoin and crypto custody regulation. This consultation is part of the government’s broader approach to cryptocurrency oversight.

Farage appeared at the Bitcoin conference alongside supporters of US President Donald Trump, showing alignment with Trump’s pro-crypto policies. The Reform leader expressed support for the American president’s stance on digital assets.

The post Reform UK Becomes First Major British Party to Accept Bitcoin Donations appeared first on CoinCentral.

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Filed under: News - @ May 30, 2025 8:29 am