UK Chancellor John Healey used a Monday speech to attack Reform Party leader Nigel Farage over his stance on Bitcoin, calling him "Liz Truss with a Bitcoin account." Healey said Farage tries to present himself as a champion of ordinary people, but on economic policy he is effectively no different from the former prime minister whose 2022 debt-funded mini-budget drew heavy criticism. Healey also said the governing Labour Party would help Britain lead through fiscal discipline, good jobs and a strong industrial base.
The remarks come against the backdrop of Farage’s long-running support for crypto. Since 2020, he has framed Bitcoin largely as an issue of personal freedom and has opposed state control over money. Farage has also said that being debanked by private bank Coutts pushed him to take a greater interest in digital assets. Last year, at the Bitcoin 2025 conference in Las Vegas, he said that if elected prime minister he would cut capital gains tax on crypto and force the Bank of England to build a Bitcoin reserve. Farage has also faced criticism this year over donations from crypto-linked figures, while London’s Metropolitan Police is investigating reports that Reform may have breached overseas donation rules. The party denies wrongdoing and says it will cooperate.
UK Chancellor John Healey criticized Reform Party leader Nigel Farage’s position on Bitcoin in a speech on Monday, calling him "Liz Truss with a Bitcoin account."
Healey said Farage wants people to see him as a representative of ordinary voters, but on the economy he is "Liz Truss with a Bitcoin account."
Truss was the UK’s shortest-serving prime minister and was widely criticized over her 2022 debt-funded mini-budget.
Healey ties the attack to economic policy
Healey also said the governing Labour Party would help Britain get ahead through fiscal discipline, good jobs and a strong industrial base.
Farage’s long-standing support for crypto
Farage has long been a pro-crypto political figure. Since 2020, he has largely framed Bitcoin as a matter of personal freedom and has opposed state control over money.
He has said that Coutts, a private bank in the UK, closed his account, which pushed him to take a greater interest in digital assets.
Last year, speaking at the Bitcoin 2025 conference in Las Vegas, Farage said that if he were elected prime minister, he would cut capital gains tax on crypto and force the Bank of England to establish a Bitcoin reserve.
Donations and police scrutiny
Farage has also faced criticism this year for accepting donations from crypto entrepreneurs, including technology entrepreneur and Tether investor Christopher Harborne, as well as Ben Delo, one of the founders of the now-closed crypto exchange BitMEX.
London’s Metropolitan Police has opened an investigation into reports that Reform breached overseas donation rules. Reform denies wrongdoing and said it would cooperate.
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