Reform UK leader has been unusually quiet in recent weeks – at great cost to the party during a crucial byelection

Fake images of Nigel Farage have been ubiquitous online lately – but the real politician has proved far more elusive since it was revealed seven weeks ago that he took a £5m personal gift from a crypto billionaire.

And while an AI-generated depiction of the Reform UK leader was falsely shown getting violent on BBC’s Question Time, Farage has been largely avoiding the TV studios where he might face questions over the cash.

Call for ‘clear and truthful account’ comes amid questions about the Reform leader’s property spending

The Labour party has written to Nigel Farage urging him to stop “evading reasonable scrutiny” over the £5m personal gift he received from the Thailand-based crypto billionaire Christopher Harborne.

The letter coincides with approval of a planning application that reveals the Reform leader’s plans to transform a dilapidated Kent property into a luxury beachfront residence.

The Greek government is reportedly finalizing legislation to impose a 15% tax on capital gains derived from cryptocurrencies, aiming to formally integrate digital assets into the national tax code. According to government officials who spoke to Reuters on Friday, the Ministry of National Economy and Finance in Greece is drafting the bill, which authorities expect to submit to Parliament for approval in the coming months.

Under the proposed financial framework, the initial 500 euros of cryptocurrency profits will remain exempt from the new tax to shield small-scale retail investors. Any capital gains exceeding this threshold will face a flat 15% rate, aligning the taxation of digital assets with traditional securities sales in Greece.

It is believed that people engaged in personal cryptocurrency mining will not face taxation on their yields. However, if the mining operation functions as a registered corporate entity, standard business tax rules will apply.

The current situation regarding cryptocurrency taxation in Greece

At present, Greece operates without a comprehensive legal framework specifically targeting cryptocurrency profits and people making a living out of them. This regulatory gap reflects a broader inconsistency across the European Union, where member states currently lack a unified fiscal system for the rapidly expanding sector. Across the continent, tax rates on digital capital gains vary significantly, ranging from an 8% low in neighboring Cyprus to 30% in France. The upcoming Greek legislation seeks to close domestic loopholes and bring Athens in line with European peers that have already established clear rules for digital investors.

The legislative move coincides with a wider European push to curb tax evasion and financial opacity within the digital space. The European Union recently introduced the Markets in Crypto-Assets (MiCA) Regulation and the DAC8 Directive, which mandate strict reporting standards and demand that crypto-asset service providers share user transaction data with national tax authorities. Greece’s updated tax code will operate in tandem with these measures on a European level.

A pointless measure?

Despite the planned implementation, government sources acknowledged severe difficulties in measuring the actual size of the domestic cryptocurrency market. The vast majority of Greek investors execute their trades through international, offshore platforms rather than locally registered exchanges. This decentralized structure makes it nearly impossible for financial authorities to accurately track the total volume of digital assets held by people. Consequently, the Ministry of Finance has not yet published any specific projections regarding the exact state revenues the 15% tax might generate.

Until the proposed legislation officially becomes law, cryptocurrency profits remain largely undeclared in Greece, leaving a substantial pool of potential state revenue untapped.