Key Takeaways:

• Liberal Democrats urged the FCA to probe Nigel Farage over a $2 million bitcoin promotion video on April 13.
• A record $12 million crypto gift to Reform UK sparked new U.K. bans on untraceable election donations.
• The FCA may review whether Stack BTC promos mislead fans into risky assets, mimicking Donald Trump’s 2024 tactics.

Allegations of Market Abuse

The U.K. opposition Liberal Democrats have called on the Financial Conduct Authority (FCA) to investigate opposition leader Nigel Farage’s cryptocurrency dealings. In a letter to FCA CEO Nikhil Rathi, the party cited a Stack BTC promotional video featuring Farage buying $2 million worth of bitcoin.

Daisy Cooper, the Liberal Democrats’ deputy leader, said the video…