Bank of England governor says he is ‘able to spot’ lobbying after Farage crypto meeting
Summary
The Bank of England governor, Andrew Bailey, said he can recognize and resist pressure from politicians after Nigel Farage tried to influence the Bank’s cryptocurrency policies. Farage is facing investigations for not declaring a large donation from a cryptocurrency supporter and recently resigned as an MP to run in a special election.Key Facts
- Nigel Farage pushed the Bank of England governor to stop a policy on cryptocurrency that might hurt a donor’s business.
- Farage did not originally disclose a £5 million gift from Christopher Harborne, a crypto billionaire.
- Farage resigned as a Member of Parliament amid investigations into undeclared financial support.
- Andrew Bailey confirmed he met Farage but said no Bank policies changed due to his lobbying.
- Farage threatened to go to prison to stop the Bank’s plan for a government-issued digital currency.
- The Bank is still considering issuing its own digital currency, called a "Britcoin."
- Crypto company lobbyists, including the donor’s firm, opposed the Bank’s digital currency plans.
- The Bank denied revealing details of Bailey’s meeting with Farage under freedom of information law.
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