Reform UK party leader Farage promises to push for the deregulation of cryptocurrencies

ChainCatcher news, according to Blockworks, British politician Nigel Farage announced today at the DAS London event that if his Reform UK party enters the government, it will implement a deregulatory policy in the cryptocurrency sector.

Farage's proposed "Crypto Assets and Digital Finance Bill" includes reducing the capital gains tax on cryptocurrencies to 10%, establishing a Bitcoin reserve at the Bank of England, and strengthening restrictions on account closures based on legitimate digital asset activities.

This move aims to revive London’s status as a global trading hub in response to the challenges of slowing economic growth and deteriorating government finances in the UK. Current polls show that the Reform UK party leads in support over other parties, including the ruling Labour Party.