Connect with us

Published

3 years ago

on

The vast majority of Scotland’s central belt will remain in Level 2 restrictions as Nicola Sturgeon delayed the easing of COVID measures for many parts of the country.

The first minister said there would be a “slight slowing down” in the lifting of lockdown rules for much of Scotland due to spread of the Indian variant of coronavirus.

Edinburgh and Midlothian, Dundee, East Dunbartonshire, Renfrewshire, East Renfrewshire, North, South and East Ayrshire, North and South Lanarkshire, Clackmannanshire and Stirling have not yet met the criteria to see restrictions ease, Ms Sturgeon said.

As a result, those areas will remain under Level 2 restrictions.

However, another 18 local authorities will see restrictions ease from Saturday to move down to Level 1 measures.

These are Highland, Argyll & Bute, Aberdeen City and Aberdeenshire, Moray, Angus, Perth & Kinross, Falkirk, Fife, Inverclyde, East and West Lothian, West Dunbartonshire, Dumfries & Galloway and the Borders.

And Glasgow will move down from Level 3 to Level 2 from midnight on Friday.

More on Covid-19

Under the Scottish government’s COVID route map, the whole of Scotland had been scheduled to move into Level 1 restrictions from next Monday, 7 June.

The country had moved to Level 2 restrictions last month, although a spike in infections – thought to be driven in large part by the Indian variant of the virus – forced ministers to keep the entire Glasgow City Council area in Level 3.

Last week, Ms Sturgeon said Glasgow had an “uncomfortably high” number of COVID cases despite “signs of progress” in limiting infections.

Level 3 restrictions mean pubs, bars and restaurants can’t serve alcohol indoors and must close at 8pm, while gatherings inside other peoples’ homes are barred.

Under Level 2 restrictions, pubs, bars and restaurants are allowed to serve alcohol indoors, six people from three households can meet inside homes and stay overnight, and indoor group exercise classes allowed for over 18s.

And under Level 1 restrictions, there is even greater flexibility on social mixing and all leisure and entertainment businesses – apart from nightclubs – can open.

People are able to travel anywhere in Scotland in Levels 0, 1 or 2 but must not enter a Level 3 or 4 area unless they have a permitted reason like going to work or caring for a vulnerable person.

Ms Sturgeon’s decision to delay the easing of restrictions for much of Scotland will add to pressure on Prime Minister Boris Johnson to postpone a further reopening in England.

Stage four of Mr Johnson’s roadmap for easing coronavirus rules – when the prime minister aims to remove all legal limits on social contact – is scheduled to take place from 21 June.

But there is growing doubt over whether the prime minister will be able to keep to that date due to the spread of the Indian variant – now renamed as the Delta variant by the World Health Organisation – within the UK.

Related Topics:
Continue Reading

Politics

The SEC is facing another defeat in its recycled lawsuit against Kraken

Published

5 hours ago

on

December 2, 2023

By

The SEC is facing another defeat in its recycled lawsuit against Kraken

The legal duel between the United States Securities and Exchange Commission (SEC) and Kraken, a leading cryptocurrency exchange, looks like another misguided attempt by the SEC to exert control over an industry that fundamentally challenges an outdated regulatory playbook. The agency’s lawsuit, filed in November, accuses Kraken of operating as an unregistered securities exchange.

The lawsuit isn’t just a repeat of the SEC’s past failures. It’s also a glaring example of regulatory overreach that fails to grasp the essence of cryptocurrency. It mirrors the agency’s actions against Coinbase, which mark a pattern of aggressive regulation that is both ineffectual and counterproductive. In its case against Coinbase, the SEC allegations similarly involved operating as an unregistered securities exchange. The approach fundamentally misunderstands the nature of cryptocurrency exchanges.

The lawsuit isn’t just a repeat of the SEC’s past failures. It’s also a glaring example of regulatory overreach that fails to grasp the essence of cryptocurrency. It mirrors the agency’s actions against Coinbase, which mark a pattern of aggressive regulation that is both ineffectual and counterproductive. In its case against Coinbase, the SEC allegations similarly involved operating as an unregistered securities exchange. The approach fundamentally misunderstands the nature of cryptocurrency exchanges.

Unlike traditional securities exchanges, platforms like Kraken offer a diverse range of digital assets that do not fit neatly into the securities framework. This misclassification by the SEC reveals a lack of understanding of the unique characteristics of cryptocurrencies, which function as decentralized assets, often with utility or currency-like features rather than conventional securities.

Related: Expect some crypto companies to fail in the wake of Bitcoin’s halving

One of the most striking issues is the absence of technological neutrality — the principle that regulatory frameworks should apply equally to all forms of technology, without favoring or penalizing any particular one. By forcing cryptocurrencies into the traditional securities mold, the SEC is not only misapplying laws but also showing a clear bias against digital assets. This lack of neutrality not only hinders innovation but also unfairly targets platforms that are striving to work within the regulatory landscape.

The SEC lawsuit against Kraken shamed the exchange for telling users they could attempt to profit by dollar-cost averaging into Solana. Source: Securities & Exchange Commission

The aggressive stance of the SEC risks driving innovation and business away from the U.S. to more crypto-friendly jurisdictions. This phenomenon, known as regulatory arbitrage, could result in the U.S. losing its position as a leader in technological innovation. The crypto industry is global, and excessive regulation in one country simply pushes businesses to relocate, taking their economic benefits and innovations with them.

Related: 3 theses that will drive Ethereum and Bitcoin in the next bull market

The Kraken lawsuit is set to become another example of the SEC’s failure to successfully regulate the crypto industry, akin to the outcome of its actions against Coinbase. This repetitive cycle of aggressive and misinformed regulation is not only futile but also harmful to the credibility of the SEC. It sends a message that the regulatory body is more interested in flexing its regulatory muscle than in understanding and adapting to new technological paradigms.

The case isn’t just an isolated legal battle. It is indicative of a broader issue within the U.S. regulatory framework’s approach to cryptocurrencies. The SEC must move beyond its current, outdated tactics and engage with the crypto industry in a more informed and constructive manner. Regulation is necessary, but it must be reasonable, well-informed, and designed to foster innovation, not stifle it.

It looks the SEC is set for another resounding defeat, which will serve as one more reminder of the need for a new approach by regulators.

Daniele Servadei is the 20-year-old founder and CEO of Sellix, an Italian e-commerce platform that has processed more than $75 million in transactions for more than 2.3 million customers worldwide. He’s attending the University of Parma for a degree in computer science.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Continue Reading

Politics

Nayib Bukele steps down as El Salvador’s President ahead of re-election bid

Published

7 hours ago

on

December 1, 2023

By

Nayib Bukele steps down as El Salvador’s President ahead of re-election bid

El Salvador President Nayib Bukele, who was behind legislation recognizing Bitcoin (BTC) as legal tender in the country, has stepped down from office to campaign.

On Dec. 1, Bukele resigned as the President of El Salvador following approval from the country’s Legislative Assembly, allowing him to take a leave of absence to focus on his 2024 re-election campaign. He was succeeded by Acting President Claudia Rodríguez de Guevara, who is expected to serve until June 2024. The next general election will take place in February 2024.

“Current state of democracy in El Salvador: the office of the President of the Republic will be occupied by a person for whom no one has ever voted,” said Héctor Silva, candidate for the mayor’s office of San Salvador, on X.

Bukele, who first took office in June 2019, quickly became known for his attempts to reduce the homicide rate in El Salvador — one of the highest in the world at the time — as well as his pro-crypto policies. He advocated for the Salvadoran government to adopt Bitcoin as legal tender in September 2021 and pushed for the creation of a volcano-powered ‘Bitcoin City’ in the country.

Related: Salvadoran pro-Bitcoin President Nayib Bukele launches reelection bid

Though the homicide rate under Bukele has dropped significantly, many critics have pointed to El Salvador violating laws on human rights in its attempts to crack down on gang activity. A United Nations human rights office report from March said the country had implemented “mass detentions” since 2022, in which many people were mistreated or had died in custody.

The President of El Salvador serves for a five-year term. Before September 2021, the country’s constitution required presidents to wait ten years before running for re-election. However, El Salvador’s Supreme Court ruled at that time that a president may serve two consecutive terms.

Magazine: What it’s actually like to use Bitcoin in El Salvador