Recreating Trump, the leader of the UK Reform Party suggests establishing a £5 billion Bitcoin reserve.

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British officials are emulating Trump by using the identity of a "cryptocurrency advocate" to win votes, as Britain is being swept by a cryptocurrency wave.

At a conference held in London this week, Reform UK party leader Nigel Farage positioned himself as the UK's "cryptocurrency advocate" and put forward a series of cryptocurrency policy proposals. The core points include: advising the UK government to set up a strategic Bitcoin reserve of about £5 billion using seized assets; imposing a unified capital gains tax of 10% on cryptocurrencies; ending the Bank of England's digital pound project; and allowing (but not mandating) taxes to be paid in cryptocurrency.

This policy proposal is very similar to the three policies Trump put forward during his cryptocurrency campaign activities. Nigel Farage has positioned himself as the UK's "cryptocurrency advocate," and has even adopted Trump's tone and timing for releasing statements.

Copying Trump: Cryptocurrency Becomes a New Political Bargaining Chip

Nigel Farage's strategy is highly similar to Trump's campaign during the 2024 US presidential election. At that time, Trump’s clear and effective pro-crypto stance was seen as a way to win over voters who hold digital assets. According to a Fairleigh Dickinson University poll in August 2024, potential voters who own cryptocurrency supported Trump 12 percentage points more than his opponent Kamala Harris. The executive director of the poll, Dan Cassino, pointed out,

"Trump has extended an olive branch to the crypto community, and it appears to be paying off."

Now, Farage is trying this approach in the UK. According to the latest data from the UK Financial Conduct Authority (FCA), about 12% of UK adults currently hold or have held crypto assets, up from only 4% in 2021, forming a voter group that cannot be ignored. Farage’s pro-crypto policy clearly caters to this group in hopes of securing votes.

Limited Influence, Cryptocurrency Becomes a Political Topic

Despite Farage's ambitious plans, his actual influence in parliament is very limited. Currently, Reform UK holds only 5 out of 650 parliamentary seats, making it extremely difficult for proposals to become policy. At the same time, key institutions involved, such as the Treasury, the Bank of England, or Parliament, are not directly under his influence. His policies help spark discussion, but usually that's the extent of it.

However, part of Farage’s proposals have actually already been put into practice.The UK has already started to lay the foundation for cryptocurrency regulation, especially in the areas of stablecoins and custody frameworks.Research on tokenized investment funds is also ongoing.

Farage's plans may be difficult to implement as policy, but cryptocurrency policy is becoming a political focus in the UK.

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