Reform UK will accept donations through bitcoin and other cryptocurrencies, Nigel Farage has announced.

During an appearance at the Bitcoin Conference in Las Vegas, where he was introduced as a “UK presidential candidate”, Farage said: “As of now, provided you are an eligible UK donor … we are the first political party in Britain that can accept donations in bitcoin and other cryptocurrencies.”

He said Reform was planning to introduce a cryptoassets and digital finance bill. This would cut capital gains tax on cryptoassets from 24% to 10%, turning the UK into a “crypto powerhouse”, he said. Farage added that the crypto legislation that his party had drawn up would include a “bitcoin digital reserve in the Bank of England”.

Farage said the bill would make it illegal for banks to debank customers who use and trade in cryptocurrency.

On Thursday the Reform website was updated to accept cryptocurrency donations. There was a disclaimer stating that all donations were subject to Electoral Commission rules and that anonymous donations were not permissible.

At the conference, Farage called the acceptance of political donations “innovative”, before commending America for being “ahead” with their stance on digital assets.

“My message to the British public, and my message particularly to young people, is to help us to help you bring our country properly into the 21st century,” he said. “Let’s recognise that crypto and digital assets are here to stay.”

During his talk, Farage criticised the current Labour government and the previous Conservative regime’s lack of action in the cryptocurrency world. He said: “Rishi Sunak, when he was briefly prime minister, made one speech about crypto … and how London used to be a global financial centre. One speech and nothing else. Labour, well we have 25 men and women in cabinet and not a single one of them has worked in private business.”

A Reform UK spokesperson said cryptocurrency donations would be accepted by the party and details were expected to be announced on Friday.

Reform UK is listed on Companies House as a private company majority controlled by the leader, not a members’ association like other parties. The company that owns Reform UK is listed as Reform 2025, a not-for-profit company that has just two members and two directors: Farage and Zia Yusuf.