Farage also said he had pressed Bailey to change its approach to cryptocurrencies, having previously criticised the central bank over its stance on digital money.
Reform has pledged to make the UK a “premier hub” for cryptocurrency innovation if it wins power, with plans for a two-year pilot scheme under which designated financial institutions would be exempted from some crypto rules.
The party also wants to slash rates of capital gains tax due when cryptocurrencies are sold, and allow people to pay taxes in Bitcoin and “other approved crypto”.
Farage recently branded, external officials at the Bank of England “dinosaur bureaucrats” over its plans to place ownership limits on stablecoins, digital money designed to have a stable value linked to traditional currencies, in the UK payments system.
The central bank has warned the tokens could destabilise the banking system by draining it of deposits.
Speaking ahead of his meeting, he accused the Bank of “turning their back” on cryptocurrencies, calling its stance “madness”.
But he told reporters afterwards that Bailey was retaining an open mind on crypto regulation, adding “that was at least encouraging”.
He shrugged off his previous criticism, external of the bank governor as “hopeless”, telling reporters: “He’s very polite, and the coffee was quite good.”
The Bank declined to comment on the details of the discussions, but said the governor had a “productive meeting” with Farage and Tice and part of its engagement with political representatives.
