Why did the Bank of England deny Nigel Farage influenced its CBDC policy?

The Bank of England said its policymaking is independent and that discussions with Nigel Farage did not affect its approach to a potential digital pound. Governor Andrew Bailey stated that no policy changes resulted from Farage's interventions.

What did Andrew Bailey say about the Bank of England's CBDC policy?

Andrew Bailey said the Bank of England has made no policy changes on a central bank digital currency following discussions with Nigel Farage. He added that the central bank is able to identify and resist attempts to influence its policymaking.

What is the current status of the Bank of England's digital pound project?

The Bank of England said no decision has been made on introducing a digital pound. The proposed central bank digital currency remains in the research and design phase and would require further analysis and public consultation before any launch.

Why is Nigel Farage linked to the Bank of England's CBDC debate?

Nigel Farage has publicly opposed central bank digital currencies and discussed cryptocurrencies with Bank of England Governor Andrew Bailey during a meeting. Bailey later confirmed those discussions did not result in any changes to the Bank's CBDC policy.

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Bank of England denies CBDC lobbying claims

Q: How is the Bank of England preparing for digital assets?

The Bank of England has launched a six-month pilot involving 18 companies to test how tokenised assets could be settled using central bank money. The project forms part of the Bank's broader work to modernise the UK's financial infrastructure.

Written by Jon CuthbertPublished Jul 9, 2026, 12:55 AM

Bank of England Governor Andrew Bailey said Nigel Farage did not influence the central bank's policy on a potential digital pound.
Bailey said the Bank's policy decisions remain independent despite discussions with Farage about cryptocurrencies.
The Bank of England continues researching a possible central bank digital currency while no launch decision has been made.

Bank of England Governor Andrew Bailey said Nigel Farage did not influence the central bank's approach to a potential central bank digital currency after the two discussed cryptocurrencies during a meeting.

According to a letter obtained by The Guardian, Bailey said the Bank of England makes policy independently and rejected suggestions that Farage's lobbying had changed its position on a proposed digital pound.

“I am happy to confirm that no policy changes have taken place as a result of interventions by Mr. Farage,” Bailey wrote in the letter.

The comments came as Farage resigned his parliamentary seat following reports he accepted gifts from individuals linked to the cryptocurrency industry, while maintaining that he had not broken any laws, and The Guardian also reported that the UK's National Crime Agency is investigating transactions involving other senior Reform UK figures.

The Bank of England continues to study the potential introduction of a digital pound, and because the announcement relates to central bank policy rather than a listed company, there was no share price reaction.

The central bank has said no decision has been made on whether to introduce a central bank digital currency and that any launch would require further analysis and public consultation.

Earlier this year, the Bank of England launched a six-month pilot involving 18 companies to examine how tokenised assets could be settled using central bank money as part of efforts to modernise the UK's financial infrastructure.