UK’s Reform Party puts crypto tax cuts and Bitcoin reserve plan on its campaign agenda
The UK political party Reform UK wants to make cryptocurrency one of its priorities to attract young voters. Party chairman Zia Yusuf revealed this in a recent op-ed, with the aim of positioning the UK as a crypto powerhouse. The move comes amidst the positive momentum for the crypto industry due to President Donald Trump’s previous support. Reform UK aims to emulate this success in the UK, emphasizing the need to reignite innovation efforts and boost the economy.
The party has introduced the Cryptoassets and Digital Finance Bill to address crypto regulation, with the goal of making London a central hub for crypto and digital finance. By reducing capital gains on crypto assets to 10% and providing regulatory clarity for blockchain companies, Reform UK aims to attract more crypto investors and enhance tax revenue. Additionally, the party plans to prevent debanking individuals and entities involved in crypto transactions.
Farage announced that Reform UK will accept crypto donations, becoming Europe’s first major political party to do so. This move signals the party’s commitment to crypto adoption and innovation. Farage also supports the creation of a strategic Bitcoin Reserve by the Bank of England, similar to Trump’s previous initiatives. The crypto community has welcomed these developments, contrasting with the UK government’s stance on Bitcoin as a reserve asset.
