Andrew Bailey said Nigel Farage did not affect the Bank of England’s digital pound work, as Farage faces scrutiny over crypto-linked gifts and the central bank continues pilot research on tokenized settlement.
Bank of England Governor Andrew Bailey said Nigel Farage did not sway the central bank’s approach to a potential digital pound, telling The Guardian that no policy changes followed their meeting and that the Bank can identify attempts to influence its policymaking. The comments came as Farage continues to oppose central bank digital currencies on privacy grounds and faces parliamentary scrutiny over financial declarations linked to gifts from Christopher Harborne and George Cottrell. Farage said he had done nothing wrong and resigned as the Member of Parliament for Clacton to trigger a by-election, saying voters should decide whether he should continue representing the constituency while investigations continue. Separately, The Guardian reported that the National Crime Agency is investigating several transactions involving other senior Reform UK figures over suspected money laundering, though the report did not say Farage was part of that inquiry. Meanwhile, the Bank of England said no decision has been made on whether to introduce a digital pound and that any launch would require further analysis and public consultation. Earlier this year, it also began a six-month pilot with 18 companies to test how tokenized assets could be settled using central bank money as officials assess the role a digital pound could play in the UK financial system.