Bank Of England Governor Denies Farage Influenced CBDC Policy

Bank of England Governor Andrew Bailey has reportedly denied that lobbying from Nigel Farage affected the central bank’s stance on a potential digital currency, insisting that policy decisions remain independent.

Bailey Responds After Farage Meeting

According to a letter obtained by The Guardian, Bailey said the Bank of England is capable of identifying attempts to influence its policymaking. The letter followed a meeting with Farage where cryptocurrencies were among the topics discussed. Bailey confirmed that no policy changes resulted from Farage’s involvement, addressing the matter after Farage spoke publicly about their conversation.

Farage Resigns Amid Crypto Donation Scandal

Farage, leader of the UK’s Reform Party and a prominent Brexit figure, resigned his parliamentary seat this week following reports that he accepted gifts from individuals connected to the crypto industry. He has long opposed a central bank digital currency, previously saying he would rather face prison than live under a system he considers financial surveillance. Despite stepping down, Farage maintains he has not broken any laws. Separately, the UK’s National Crime Agency is reportedly investigating other senior Reform UK figures over transactions suspected of money laundering.

Digital Pound Remains Under Development

The Bank of England continues researching a potential “digital pound,” though officials stress no final decision has been made on whether to launch one, with further analysis and public consultation still required. Earlier this year, the central bank began a six-month pilot involving 18 companies to test settlement of tokenized assets using central bank money.