Lib Dems call for inquiry into Farage Bitcoin deal

Lib Dems call for inquiry into Farage Bitcoin dealJust nowShareSaveAdd as preferred on GoogleJoe PikePolitics investigations correspondentBBCReform UK leader Nigel Farage (L) stands with former Chancellor Kwasi Kwarteng (R) as they promote cryptocurrencyThe Liberal Democrats have called for the UK financial services regulator to investigate Nigel Farage's promotion of a £2m cryptocurrency purchase.The Reform UK leader is a shareholder in the British Bitcoin company Stack and appeared in a promotional video to mark its latest investment.The Lib Dems want the Financial Conduct Authority (FCA) to investigate whether his actions amount to "attempted interference in the cryptocurrency market" or "attempted market abuse".A spokesman for Farage described the event as a "photo call" and said: "Mr Farage is embracing the 21st century. He bought the [£2m of] crypto on behalf of Stack and not personally".Farage has put £215,000 into the company and owns 6.3% of its shares through his investment vehicle Thorn In The Side Ltd.Labour has described Farage's involvement in the venture "a bid to line his own pockets". The BBC has approached Stack for comment. Bitcoin is a form of cryptocurrency or digital money. Cryptocurrencies do not have a physical form and are traded over a computer network.In the promotional video to announce Stack's £2m Bitcoin purchase, Nigel Farage appeared alongside Kwasi Kwarteng, who served as UK chancellor for 38 days during Liz Truss's premiership."I have long been one of the UK's few political advocates for Bitcoin, recognising the role digital currencies will play in the future of business and finance," Farage said in a press release.Liberal Democrats deputy leader Daisy 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-ri...