Reform UK party leader Nigel Farage called on the UK to create a sound legal framework for digital assets.
Speaking at the Digital Assets 2025 Summit in London, Nigel Farage stressed that the UK currently does not have a fully regulated crypto-asset market. He criticized the entire digital asset sector and crypto-assets for not being taken seriously at all, and asserted that the country needs sensible regulation instead of the irrational regulations applied to securities and other sectors.
Farage expressed deep disappointment that the current government has done little in this area, despite former Chancellor Rishi Sunak's stated intention to make the UK a global hub for crypto-asset technology in 2022. In the 2024 general election, no major political party has made a specific commitment or policy on digital assets in its platform. This is a huge missed opportunity for the UK, according to Conrad Young, co-founder of lobbying firm Paragon.
Political ambitions and vision for crypto assets
A close political ally of US President Donald Trump, Farage is positioning himself as a representative of digital asset investors and businesses, while also preparing for his ambitions to become a future Prime Minister. He has stated that regardless of the public’s political views of him over the past three decades, when it comes to the growth of the digital asset industry, he is a representative and a changemaker.
At the Bitcoin 2025 conference in May, Farage pledged, if elected, to drastically cut Capital gains tax on crypto assets and force the Bank of England to set up a Bitcoin reserve fund.
Widely known as the architect of Brexit, Farage and his Reform UK party are currently leading in some opinion polls. In 2023, his bank account at NatWest group Coutts was closed, making him the most high-profile case of being removed from the UK banking system.
Since then, he has repeatedly argued that cryptoassets can solve the problem of debanking, echoing similar views expressed by President Trump. Farage has emphasized that cryptoassets provide personal sovereignty, allowing users to own and control their money, and asserted that this is the inevitable way of the future.
