Nigel Farage announced that Reform UK will now accept political donations in Bitcoin and other cryptocurrencies, making it the first British political party to do so.

Speaking at the Bitcoin Conference in Las Vegas, Farage revealed that Reform plans to introduce a cryptoassets and digital finance bill to cut capital gains tax on crypto from 24% to 10%, create a bitcoin reserve in the Bank of England, and prevent banks from debanking crypto users.

Reform’s website was updated to accept crypto donations, subject to Electoral Commission rules.

Farage criticized the Labour and previous Conservative governments for inaction on crypto and emphasized his party’s plan to make the UK a “crypto powerhouse,” The Guardian has reported.

Reform UK, a private company majority controlled by Farage and Zia Yusuf, will announce further details on the donations policy soon.

Written by B.C. Begley