Nigel Farage Promises 10% Crypto Capital Gains Tax If Elected

Nigel Farage, the leader of Britain’s right-wing Reform Party, has made a significant pledge to the cryptocurrency community. During his appearance at the Bitcoin 2025 conference in Las Vegas, Farage announced that if elected as prime minister, he would prioritize crypto-related legislation. He introduced the Crypto Assets and Digital Finance Bill, which aims to bring crypto and digital assets into the mainstream.

Farage’s proposed bill includes several key provisions. It would reduce capital gains taxes on crypto to 10%, down from the current maximum of 24%. Additionally, the bill would mandate the Bank of England to establish a Bitcoin reserve, ensuring that the central bank holds a significant amount of Bitcoin. Furthermore, the legislation would outlaw the practice of debanking, where British banks deny services to customers involved in the crypto industry.

Farage highlighted his personal experience with debanking, stating that he was refused an account by 10 different banks. He used this experience to connect with the conference attendees, emphasizing the importance of crypto in providing financial freedom. Farage’s stance on debanking aligns with the sentiments of many crypto industry leaders who have claimed to be denied banking services due to their involvement in the sector.

Farage’s political career has been marked by controversy. He previously led the UK Independence Party (UKIP), which played a crucial role in the UK’s withdrawal from the European Union in 2016. Farage has faced accusations of racism, which he and his party have denied. Despite the controversies, Farage has continued to advocate for his political views and has now turned his attention to the crypto community.

The Reform Party, under Farage’s leadership, has embraced crypto by accepting donations in various cryptocurrencies, including BTC, Ethereum (ETH), Solana (SOL), and USDC. This move mirrors similar actions by other right-wing parties and governments around the world, who have recognized the potential of crypto in their political strategies.

Farage framed the Reform Party’s platform as aligned with the ethos of crypto, describing the party as anti-establishment and disruptive. He aimed to appeal to the conference attendees by positioning the Reform Party as a champion of financial freedom and innovation, much like the crypto community itself.