Bank of England Governor Andrew Bailey asserts policy independence after meeting with Nigel Farage on cryptocurrency issues.
Bank of England Governor Andrew Bailey denied that lobbying by Nigel Farage affected the central bank’s approach to a potential central bank digital currency (CBDC). Bailey stated in a letter that the BoE’s policymaking remains independent and no changes resulted from Farage’s interventions.
The letter followed a meeting where Farage, a vocal CBDC critic and former Reform Party leader, discussed cryptocurrencies with Bailey. Farage recently resigned his parliamentary seat amid reports of accepting gifts linked to the crypto industry but maintained his innocence.
Farage has previously opposed CBDCs, arguing they represent financial surveillance. The BoE has not altered its CBDC policy despite his advocacy.