Reform UK is reportedly proposing a 10% capital gains tax on crypto investments, a move that would reduce the annual tax take by about £100 million. Current rates are 24% for higher-rate taxpayers and 18% for basic-rate taxpayers.

The proposals emerged days after Reform received £72 million from two crypto billionaires, according to NS3.AI.

Tax experts warned that such cuts could have a negative impact on the UK economy.