According to The Block, Daisy Cooper, deputy leader of the UK Liberal Democrats, has written to Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), requesting an investigation into whether Reform UK leader Nigel Farage has any conflicts of interest related to crypto assets. Cooper pointed out that, prior to participating in a promotional video for Stack BTC and "acting on behalf of the company" to purchase 2 million pounds worth of Bitcoin, Farage had invested approximately 215,000 pounds in the company. She believes that this arrangement of "investing while endorsing and re-participating in coin purchases" may involve market abuse risks and could mislead or harm retail investors. Cooper also mentioned that Farage has long publicly supported expanding the use of cryptocurrencies, including proposing the establishment of a "Bitcoin reserve fund" and pushing for the UK tax authorities to accept crypto assets for tax payments.
According to The Block, Daisy Cooper, deputy leader of the UK Liberal Democrats, has written to Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), requesting an investigation into whether Reform UK leader Nigel Farage has any conflicts of interest related to crypto assets. Cooper pointed out that, prior to participating in a promotional video for Stack BTC and "acting on behalf of the company" to purchase 2 million pounds worth of Bitcoin, Farage had invested approximately 215,000 pounds in the company. She believes that this arrangement of "investing while endorsing and re-participating in coin purchases" may involve market abuse risks and could mislead or harm retail investors. Cooper also mentioned that Farage has long publicly supported expanding the use of cryptocurrencies, including proposing the establishment of a "Bitcoin reserve fund" and pushing for the UK tax authorities to accept crypto assets for tax payments.