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Nigel Farage to Unveil Cryptocurrency Policy at Bitcoin Conference

Reform UK leader Nigel Farage pledges to introduce crypto-friendly legislation and establish a Bitcoin reserve at the Bank of England if elected.

BTC

Summary

At the Bitcoin conference in Las Vegas, Nigel Farage, leader of Reform UK, announced plans for a Crypto Assets and Digital Finance Bill aimed at creating a Bitcoin reserve and prohibiting banks from debanking crypto users. He proposed a 10% capital gains tax on crypto assets and emphasized the need for London to become a major trading hub. Reform UK aims to accept crypto donations, reflecting its growing influence in British politics ahead of the next general election in August 2029.

Terms & Concepts
  • Cryptocurrency Bill: Proposed legislation aimed at regulating and promoting the cryptocurrency market in the UK.
  • capital gains tax: A tax on the profit from the sale of an asset, in this case, cryptocurrency investments.
  • regulatory sandbox: A framework allowing startups to test innovations in a controlled environment under a regulator's supervision.