UK Lib Dems Call for Probe Into Farage’s Bitcoin Deal

• UK Liberal Democrats call for probe into Nigel Farage’s Bitcoin deal over conflict concerns.
• Daisy Cooper warns the Farage case may involve market abuse or improper promotion.
• Farage spokesman says £2M Bitcoin buy was a “photo call,” not personal investment.

The UK’s Liberal Democrats want a formal investigation into a Bitcoin deal tied to Nigel Farage, pointing out possible conflicts of interest as crypto and politics get more tangled.

According to reports, the party has asked the FCA (Financial Conduct Authority) to look into Farage’s ties with crypto firm Stack BTC, after he promoted the company and took part in a big, publicized Bitcoin purchase. 

Stack BTC is a crypto investment firm tied to ex‑Chancellor Kwasi Kwarteng, and Farage’s link to it is at the heart of the issue. For instance, he was a part of a £2 million (roughly $2.7 million) Bitcoin purchase connected to the company. Farage has also publicly promoted it and general crypto adoption, in addition to reportedly putting more than £200,000 (around $270,000) of his own money into the venture.

The Liberal Democrats say this is a clear conflict of interest, especially if Farage uses his political influence to push crypto policies that could benefit his financial position.

Party’s deputy leader Daisy Cooper said the case raises real concerns about politicians using their clout for personal profit, urging regulators to figure out if the activity crosses into market abuse or improper promotion. Cooper said,

“This raises real concerns that Nigel Farage could be using the Donald Trump playbook to put his own financial interests above the public good, potentially luring people into high-risk schemes for his own gain.”

An FCA spokesperson stated they will look into the situation and reply directly.

Farage’s Response

A spokesman for Farage called the Bitcoin buy a “photo call”, saying that Farage is just embracing modern times and that he bought the £2 million in crypto for Stack, not for himself.

In a press release about his Stack investment, Farage said he’s long been one of the UK’s few political voices for Bitcoin, adding that he sees digital currencies playing a big role in the future of business and finance.

He has indeed been one of the loudest crypto voices in UK politics, pushing for lower taxes on digital assets, a national Bitcoin reserve, and allowing political campaigns to accept crypto donations. In fact, last year in May, Farage said his party would start taking Bitcoin donations.

Related: UK Government Caps Overseas Donations and Bans Crypto Funding