UK Reform Party leader Farage is accused of a conflict of interest after receiving a £5 million donation and then promoting a proposal for cryptocurrency tax cuts

The leader of the Reform Party, Farage, has been accused by the opposition of having a conflict of interest. In 2024, he received a personal donation of £5 million from cryptocurrency investor Christopher Harborne, after which the Reform Party proposed a regulatory draft for the cryptocurrency industry, aiming to reduce the stamp duty on cryptocurrency transactions from 24% to 10%, and proposed the establishment of a national btc-42">Bitcoin reserve and a reduction in capital gains tax on crypto assets.

Farage has admitted to receiving the aforementioned donation, and the Reform Party stated that policy-making is unrelated to donors. Additionally, Harborne donated £12 million to the party last year, and cryptocurrency businessman Ben Delo also donated £4 million this year. Farage is currently facing allegations of violating House of Commons rules, which could result in the suspension of his parliamentary status and trigger a by-election in severe cases.