Nigel Farage faces watchdog probe over Tether-linked lobbying claims

The complaint centers on a September 2025 meeting between Farage and Bank of England Governor Andrew Bailey. During the session, the Reform UK leader reportedly urged the central bank to abandon its “Britcoin” digital currency project—a stance he has long championed. Shortly after the meeting, the Bank of England abandoned a proposed £20,000 cap on individual stablecoin holdings, a restriction Farage had publicly targeted. Labour MP Joe Powell has since demanded transparency regarding the meeting, insisting that financial policy must be shaped by the public interest rather than private influence.

At the heart of the controversy is Farage’s financial relationship with Harborne, a Thailand-based billionaire who holds a 12% stake in Tether. Parliamentary rules strictly prohibit MPs from lobbying public officials on behalf of individuals who have provided financial support within the previous 12 months. Records indicate Harborne donated £50,000 to Farage in early 2025 and 2026, alongside £15 million in contributions to Reform UK. Parliamentary Commissioner Daniel Greenberg is already reviewing a separate, earlier £5 million gift from Harborne to Farage that occurred prior to the July 2024 general election. While Reform UK has dismissed the allegations as baseless and both men maintain that the funds were unconditional, the inquiry will determine if Farage’s legislative advocacy crossed the line into personal interest.