The United Kingdom political party Reform UK is setting its sights on cryptocurrency as a key priority to attract young voters. Party chairman Zia Yusuf recently revealed this in an op-ed, emphasizing the party’s goal to establish the UK as a cryptocurrency powerhouse.
This strategic move by Reform UK comes at a time when the cryptocurrency industry has been experiencing positive momentum, largely due to the support of President Donald Trump. Trump’s endorsement of crypto during his presidential campaign garnered significant backing from the industry, contributing to his electoral success. Reform UK now aims to capitalize on this trend in the UK.
Yusuf highlighted the need to reinvigorate innovation in the UK, with plans to do so once Nigel Farage assumes the role of Prime Minister. He stated, “For too long, British innovation has been stifled… As Prime Minister, Nigel Farage will jump-start and reboot the British economy.”
As part of its commitment to prioritizing cryptocurrency, Reform UK has introduced the Cryptoassets and Digital Finance Bill to address cryptocurrency regulation in the country. The proposed legislation aims to position the UK as a hub for crypto and digital finance, with London at its core.
In a bid to attract younger voters, who make up a significant portion of the crypto-owning population in the UK, Reform UK is banking on its crypto-friendly stance. However, the party’s aspirations face formidable challenges, given its limited representation in the UK House of Commons compared to major parties like Labour and Conservatives.
The proposed Crypto Bill by Reform UK seeks to alleviate the tax burden on crypto investors by reducing capital gains on crypto assets to 10%, significantly lower than the current maximum rate of 24%. This tax reform is intended to enhance compliance, attract more crypto investors to the UK, and potentially increase tax revenue.
Additionally, the bill aims to provide regulatory clarity by introducing a 2-year regulatory sandbox for blockchain-focused companies. This measure is designed to make the UK a more appealing destination for such firms while upholding necessary regulatory safeguards.
Reform UK also plans to combat the practice of debanking individuals and businesses engaged in crypto transactions. The party intends to make it illegal for banks to close accounts solely due to crypto-related activities, a move driven by Farage’s personal experience of being debanked in 2023.
In a show of support for cryptocurrency, Reform UK will begin accepting crypto donations from eligible donors. Farage announced this decision at the Bitcoin Conference 2025, making Reform UK the first major European political party to embrace crypto donations. The party will utilize crypto payments provider Radom to process donations, supporting various major cryptocurrencies.
Furthermore, Farage advocated for the establishment of a strategic Bitcoin Reserve by the Bank of England, mirroring Trump’s campaign pledge to create a similar reserve. This stance has garnered praise from the crypto community, particularly in contrast to the UK government’s reluctance to recognize Bitcoin as a reserve asset.
Overall, Reform UK’s embrace of cryptocurrency signals a bold step towards fostering innovation, attracting young voters, and positioning the UK as a leading player in the global crypto landscape.