Nigel Farage Reported To UK Standards Watchdog Over Alleged Crypto Lobbying

Reform UK leader Nigel Farage has been reported to Parliament’s standards watchdog over claims he lobbied the Bank of England on crypto policy in ways that could benefit his largest donor, an investor in stablecoin issuer Tether. Labour MP Phil Brickell, who chairs a parliamentary group on anti-corruption, has asked the Parliamentary Commissioner for Standards to review Farage’s dealings with the central bank, citing rules that bar MPs from lobbying officials on behalf of financial backers within 12 months of receiving payment.

Meeting Centered On Digital Currency Plans

The complaint focuses on a private meeting last September in which Farage reportedly urged Bank of England Governor Andrew Bailey to abandon plans for a central bank digital currency. Farage later said he helped push the Bank to soften its stance, and it subsequently dropped a proposed cap on individual stablecoin holdings that he had publicly opposed. A second Labour MP has requested details of the meeting, arguing financial policy decisions should be made independently rather than shaped by private interests.

Donor Holds Major Stake In Tether

The donor at the center of the inquiry is Christopher Harborne, a billionaire who holds a stake in Tether and ranks among Britain’s wealthiest individuals. Farage accepted an undeclared £5 million gift from Harborne before the 2024 general election, along with additional political donations, and Reform UK received further contributions from him.

Farage And Party Deny Wrongdoing

Farage has described the gift as unconditional and a private matter, while Reform UK has dismissed the allegations. The Bank of England said the September meeting was part of routine engagement with political figures but has not released minutes from the discussion.