Bank

Wednesday

Guardian

Bank of England Governor Andrew Bailey has reportedly denied that lobbying efforts by Nigel Farage influenced the central bank’s approach to a potential central bank digital currency (CBDC), saying policy decisions were made independently.
According to a Wednesday <a href="https://www.theguardian.com/business/2026/jul/08/bank-governor-no-policies-changed-nigel-farage-interventions-cryptocurrency" rel="noopener noreferrer nofollow">report</a> by The Guardian, which obtained a letter written by Bailey, the governor said the BoE is “able to spot” attempts to influence its policymaking. The letter followed a meeting with Farage, during which the two discussed several issues, including cryptocurrencies.
“Following our meeting, Mr. Farage spoke with the press outlining that we had discussed a range of topics, including cryptocurrencies,” Bailey reportedly wrote in the letter. “I am happy to confirm that no policy changes have taken place as a result of interventions by Mr. Farage.”
Farage, the leader of the UK’s Reform Party and one of the most prominent supporters of Brexit, <a href="https://cointelegraph.com/news/nigel-farage-resigns-crypto-donation-scandal" rel="noopener noreferrer nofollow">resigned his parliamentary seat this week</a> amid reports that he accepted “gifts” from individuals with ties to the crypto industry. He has been an outspoken critic of CBDCs, saying he would “rather go to prison” than live under what he described as a system of financial surveillance.
Despite his resignation, Farage maintained his innocence, <a href="https://x.com/Nigel_Farage/status/2074480311543755165" rel="noopener noreferrer nofollow">stating</a> in an X livestream that he has “not broken the law in any way at all.”
<img alt="" height="717" src="https://s3-images.ctmedia.io/media/content/pasted-image-1952.png" width="784">
Source: <a href="https://x.com/Nigel_Farage/status/2074480311543755165" rel="noopener noreferrer nofollow">Nigel Farage</a>
Amid the investigations involving Farage, The Guardian also <a href="https://www.theguardian.com/politics/2026/jul/08/more-reform-uk-transactions-worth-millions-reported-to-national-agency" rel="noopener noreferrer nofollow">reported</a> Wednesday that the UK’s National Crime Agency is investigating several transactions involving other senior Reform UK figures over suspected money laundering.
Related: <a href="https://cointelegraph.com/news/nigel-farage-accepted-gifts-from-crypto-linked-fraudster-report" rel="noopener noreferrer nofollow">Nigel Farage accepted gifts from crypto-linked fraudster: Report</a>
<h2 id="boe-presses-ahead-with-digital-pound-research">BoE presses ahead with digital pound research</h2>
The Bank of England continues to explore a potential central bank digital currency, the proposed “digital pound,” which remains in the design phase as policymakers assess its role in an increasingly digital economy.
“No decision has been made on whether to introduce a digital pound,” the central bank <a href="https://www.bankofengland.co.uk/report/2025/digital-pound-update-october" rel="noopener noreferrer nofollow">said</a> in a recent update, emphasizing that any launch would require further analysis and public consultation.
Earlier this year, the Bank <a href="https://cointelegraph.com/news/bank-of-england-selects-chainlink-for-synchronisation-lab-to-test-onchain-settlement-with-central-bank-money" rel="noopener noreferrer nofollow">launched a six-month pilot</a> to explore how tokenized assets could be settled using central bank money. The project, involving 18 companies, is part of the central bank’s broader effort to modernize the UK’s financial infrastructure.
Related: <a href="https://cointelegraph.com/features/as-real-world-asset-tokenization-accelerates-heres-whats-been-put-onchain" rel="noopener noreferrer nofollow">The 5 types of real world assets being tokenized fastest onchain</a>

Bank of England governor denies Farage lobbying swayed CBDC policy: Report

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