Reform UK leader Nigel Farage has pledged to position the UK as a global crypto hub, mirroring US President Donald Trump’s pro-crypto strategies.
“I am your champion,” Farage said while speaking at the Digital Asset Summit 2025 in London on Oct. 13. “The government of today has done nothing in this area. I make things change.”
He called for sensible crypto regulation, not ”the ludicrous regulation” applied to equities.
He also opposed the Bank of England’s proposed central bank digital currency, labeling it an “authoritarian nightmare” and pledging to halt its development if Reform UK gains power.
Reform Leads In UK Opinion Polls
Reform UK currently leads the opinion polls in the country. Should it win the next election, scheduled for 2029 at the latest, Farage said his party would take action on crypto “very, very quickly.”
The pledge to support crypto is part of a bid to appeal to younger investors.
Reform UK unveiled a “Crypto Assets and Digital Finance Bill” in May in which it detailed plans to establish a state-backed strategic Bitcoin reserve and reduce capital gains tax on crypto investments to 10%.
Referring to the lack of crypto progress in the UK, Farage said during his speech that his “deep frustration” is that the whole area of digital assets and crypto just isn’t being talked about at all in the UK.
“We’ve got no regulated market,” said Farage, who is widely known for being one of the main drivers behind the campaign for Britain to leave the European Union.
Not a single political party mentioned crypto in their manifestos ahead of the 2024 elections in the UK.
Farage Supported Crypto After Being Debanked
In 2023, Farage had a bank account with the British bank Coutts closed, in part because of his political views. Since the incident, he has advocated for digital asset adoption.
“I am the most famous case of being debanked in this country,” he said, adding that he was “the first prominent person in British politics to adopt crypto, to talk about crypto, to try and legitimize crypto” because he saw “this is the way it was going.”
He added that crypto enables “personal sovereignty” because it gives users the power over their own money.
"This whole area of digital assets and crypto just isn't being talked about at all," @Nigel_Farage says pic.twitter.com/SOF42czMJT
— Digital Asset Summit 2025 (@blockworksDAS) October 13, 2025
Trump Delivers On Crypto Campaign Promises
Donald Trump did a U-turn on crypto to embrace the industry in his campaign to retake the White House for a second time last year. The industry backed him with campaign funding and he’s delivered on his promise to be ”crypto president” with a series of aggressive pro-crypto policy moves.
He signed a bill to create the US Strategic Bitcoin Reserve and a US Digital Asset Stockpile that holds multiple altcoins. He also created a White House digital asset working group to help deliver on his plan to make the US the “crypto capital of the world.”
And he signed into law the GENIUS Act, which establishes a regulatory framework for stablecoin firms looking to issue their tokens in the US.
Donald Trump Jr. has also said the family’s embrace of crypto came after they were “de-banked, de-insured, de-everything.”