Farage Crypto Ties Spark FCA Investigation Amid Labour Complaint

The UK's Financial Conduct Authority (FCA) has been asked to investigate Nigel Farage over his links to billionaire crypto investor Christopher Harborne, a significant donor to Reform UK. Labour Party chair Anna Turley referred Farage to the FCA, alleging that he used his public role to benefit those who have contributed financially to him. The referral follows reports that Farage met with Bank of England governor Andrew Bailey to urge him to drop plans for a state-run cryptocurrency.

Labour's complaint focuses on Farage's public advocacy for cryptocurrencies and stablecoins, which may have benefited Harborne and other donors. However, the FCA has stated that cryptoassets are not currently within their remit for regulation, with a spokesperson saying they will not be fully regulated until October 2027.

Farage is also being investigated by the Parliamentary Standards Commission over whether he broke rules by failing to declare a £5m gift from Harborne. The FCA has indicated that it may investigate part of Labour's complaint, and will respond to Turley's letter within 15 days.