Nigel Farage has been reported to Parliament’s standards watchdog over allegations he lobbied the Bank of England on crypto policy in a way that could benefit his biggest donor — a major Tether investor.
Labour MP Phil Brickell filed the complaint. It centers on a private meeting last September where Farage reportedly urged Bank of England Governor Andrew Bailey to scrap plans for a digital pound. Farage has publicly called the idea “Britcoin” and said he’d go to prison to block it.
The issue? Parliamentary rules bar MPs from approaching officials on behalf of people who pay them — for 12 months after such a payment. Farage accepted an undeclared £5 million ($6.7 million) gift from Christopher Harborne, a British billionaire who holds a 12% stake in Tether. That was before Farage stood for election in July 2024, and he didn’t declare it to parliamentary authorities at the time.
Harborne has also given Reform UK another £15 million. The Bank of England dropped proposed limits on stablecoin holdings last week — a cap Farage had attacked publicly. He’s claimed credit for softening the Bank’s position.
Farage’s account of the gift has shifted multiple times. First it was for security. Then it was a reward for Brexit campaigning. Then he said he could spend it on Ferraris if he wanted. Standards Commissioner Daniel Greenberg is separately investigating whether the gift should have been declared.
Farage and Harborne both say the billionaire wanted nothing in return. Reform UK calls the allegations “utter rubbish.”
