Reform UK Plans Bitcoin Reserve, Tax Cuts, Bank Protections

Reform UK, led by Nigel Farage, has unveiled a comprehensive plan to position the United Kingdom as a global leader in cryptocurrency adoption. Central to their platform is a proposed Crypto Assets and Digital Finance Bill, which includes establishing a Bitcoin reserve at the Bank of England, reducing capital gains tax on crypto assets from 24% to 10%, and prohibiting banks from 'debanking' customers involved in legal crypto transactions. The party has also become the first in the UK to accept political donations in cryptocurrencies, signaling a strong commitment to digital finance. Reform UK argues that embracing Bitcoin and blockchain technologies can enhance national sovereignty and economic dynamism, with Chairman Zia Yusuf warning that failure to include Bitcoin in the sovereign fund could leave the UK poorer in the coming decades. They propose a two-year regulatory sandbox for crypto firms to foster innovation, while rejecting Central Bank Digital Currencies as a form of tyranny. This bold stance contrasts with the current UK government’s cautious approach, potentially pressuring mainstream parties to reconsider their crypto policies.