UK Lib Dems Urge FCA Probe Into Reform UK’s Farage Over Stack BTC Promotion

Highlights:

• UK lawmakers asked the FCA to review Nigel Farage’s role in promoting Stack BTC investment.
• Stack BTC’s Bitcoin purchase and Farage’s stake raised concerns about a possible conflict of interest.
• The case adds pressure as the UK plans stricter rules on crypto donations and political funding.

The UK Liberal Democrats have called on the Financial Conduct Authority (FCA) to examine Reform UK leader Nigel Farage’s role in promoting Stack BTC after the company disclosed a roughly $2.7 million Bitcoin purchase. In a Monday post on X, Lib Dem deputy leader Daisy Cooper said the party had asked the regulator to investigate whether Farage’s plans to profit from crypto could amount to market abuse and a conflict of interest. 

The request came after Stack BTC said on 13 April that it bought 37 Bitcoin for 2 million British pounds, or about $2.7 million. The Aquis-listed company said the transaction lifted its total Bitcoin holdings to 68.1898 BTC. The purchase put Farage’s connection to the business back in focus because he has already taken a financial stake in the company and has publicly backed Bitcoin. 

Farage owns a 6.31% minority stake in Stack BTC through his investment vehicle, having invested around £215,000.

We @LibDems are calling on the FCA to investigate whether Farage’s plans to cash in on Crypto could potentially amount to market abuse and a conflict of interest.

It raises concerns that
Farage could be using the Trump playbook to put his own interests above the public good. pic.twitter.com/yTMs9eNkAL

— Daisy Cooper MP 🔶 (@libdemdaisy) April 13, 2026

What Stack BTC Did and Why It Matters

Stack BTC, led by former UK Chancellor Kwasi Kwarteng, said its Bitcoin purchase is part of its treasury plan. In a promotional video, Nigel Farage said a Bitcoin treasury company cannot exist without actually holding Bitcoin. Farage’s team said the event was only a “photo call.” They also clarified that he bought the Bitcoin for Stack BTC, not for himself.

BREAKING: Nigel Farage has purchased £2m of Bitcoin for Stack BTC – becoming the first sitting MP and the first UK political party leader in history to publicly buy Bitcoin.

A landmark moment for Bitcoin in British politics.$STAK @Nigel_Farage @blockchain @kwasi_stackbtc… pic.twitter.com/O614kKe5TN

— Stack BTC (@stackbtc_) April 13, 2026

Still, Cooper said this raises serious questions about transparency. She argued that promoting a financial product while also holding shares in the same company could create a conflict of interest. 

Daisy Cooper stated:

“Taken together, these facts beg the question whether Mr Farage is promoting cryptocurrencies through his political platform in order to inflate crypto values for his own financial benefit, as well as that of his party and his inner circle of donors”.

Large Crypto Donation Adds to Political Concerns

Cooper also pointed to a recent £9 million donation to Reform UK from crypto investor Christopher Harborne. The large amount has raised concerns among regulators and transparency groups, who say political funding must be clear and accountable.

The issue comes as the UK government moves toward stricter rules on crypto-related political funding. In March, officials said they plan to temporarily ban crypto donations to political parties. The goal is to reduce the risk of hidden or foreign money influencing UK politics. 

The FCA is now under pressure to look into whether Farage’s promotional role follows UK financial promotion rules. The regulator monitors how financial products are advertised to the public. It can act if a promotion is misleading or irresponsible.

Stack BTC trades on the Aquis exchange under the ticker STAK. Following the Bitcoin purchase announcement, its shares rose over 7% in a single trading session. The company positions itself as a route for UK investors to gain Bitcoin exposure through regulated public markets.