Reform UK Party leader Farage pledges to promote crypto deregulation

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

The "Crypto Assets and Digital Finance Bill" proposed by Farage 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 revitalize London's status as a global trading hub and address the challenges of slowing economic growth and worsening government finances in the UK. Current polls show that the Reform UK party is leading other parties, including the ruling Labour Party, in support.