LONDON — Reform UK leader Nigel Farage on Tuesday said he would step down as a lawmaker to force a snap by-election in his own constituency.The Brexit referendum figurehead, whose party is leading national polls, has come under pressure over reports about undeclared donations and funding.In a televised speech, Farage railed against the media and accused the political establishment of trying to hinder his party. His comments come as he faces scrutiny over millions worth of allegedly undisclosed political donations.A £5-million gift to Farage by a cryptocurrency billionaire was reported to the National Crime Agency by bankers who were concerned it may have been laundered money, the Guardian reported on Wednesday.The disclosure will put further pressure on the Reform UK leader, who is awaiting a decision by the standards commissioner over whether his failure to declare the money breached parliamentary rules.Farage gave a video address at 2 pm Tuesday announcing he would force a byelection in his seat of Clacton-on-Sea.That attempt to shake off the deepening scandal over his finances appeared to have backfired on Tuesday night as the Conservatives, Labour, the Green party, Restore Britain and the Lib Dems all announced that they would not stand candidates in a contest described as a “media circus” and “vanity project”.Restore Britain's leader Rupert Lowe, who fell out with Farage, said his party would not stand in an election that was "making a mockery of our entire democratic process".But Farage said he wanted the people of Clacton to be "the judges of my actions".When he first heard the news his party's leader was standing down, Peter Harris said he was "obviously concerned".But soon Farage's election agent in the 2024 General Election concluded this was "a mark of the man" he had known and worked with for several years."For him to go to the people in Clacton is the right thing to do," said Harris, who is now leader of Essex County Council.In recent weeks, Farage faced accusations over financial support he had received.Parliament's standards commissioner launched an investigation in May after Farage did not declare a £5 million gift he received from a billionaire Reform donor before he became an MP.Opposition parties have been calling for another inquiry after it emerged he did not disclose support reportedly provided by another political ally, convicted fraudster George Cottrell.Farage said in a video statement: "Let me be absolutely clear. I have done nothing wrong. I have not broken the law in any way at all. I have not misused public money."Harris said the allegations and investigation were "an establishment, mainstream media stitch-up".And voters in Clacton were Farage's "ultimate judge and his boss"."This is Nigel doing the honorable thing," Harris continued."It shouldn't be the mainstream media or the Westminster kangaroo court making the judgment on Nigel."Farage did not take questions after his statement but when asked later if his resignation was a "stunt" he told reporters it was a "big gamble".Leaving Reform's offices in London, he added: "See you all in Clacton – in the summer."It'll be marvellous won't it? It'll be lovely."For Giles Watling, the move was part of a "brilliant psychological game" by Farage."It may well win out again, we shall see."Watling was Clacton's Conservative MP between 2017 and 2024. He retained the seat in 2019 with 72.3% of the vote but saw his majority wiped out by Farage in 2024."It's brilliant, it's genius – there's no two ways about it," Watling added. "Whether that's malevolent genius or not, I won't comment."Watling said there was a "large desire to end this populist surge" that Farage represented, but that "a lot of people will stick with the Reform slogan because it's extraordinarily powerful".