Connect with us

Published

on

An eight-week interval between vaccine doses provides “much better” protection from coronavirus, vaccines minister Nadhim Zahawi has said, as he dismissed reports that the gap is due to be reduced from eight weeks to four.

Mr Zahawi also told Sky News he is “confident” that Prime Minister Boris Johnson will announce on Monday that COVID restrictions will be lifted on 19 July despite the surge in cases.

But he said new guidance issued by the PM will say people are “expected” to continue to wear face masks in crowded indoor settings, despite the legal requirement to do so ending from step four of the government’s roadmap out of lockdown.

“I think it is important that we remain cautious and careful and the guidelines that we will set out tomorrow will demonstrate that – including guidelines that people are expected to wear masks in indoor, enclosed spaces,” Mr Zahawi said.

Earlier this week, when setting out the details of his planned unlocking for the fourth and final step of his roadmap on 19 July, the PM said from this point there will be no more legal requirement on wearing face masks in shops or on public transport.

However, Mr Zahawi’s comments on Sunday suggested more caution over lifting the policy of wearing face masks altogether.

Shadow education secretary Kate Green told Sky News the changing positions from government ministers is a “recipe for confusion” and said it could lead to “more confrontations”.

A final decision on England’s path out of restrictions is expected to be taken on Monday.

Wales has already deviated from the UK Government’s position on mask wearing, announcing that face masks will remain mandatory there in some public places until COVID-19 is no longer a public health threat.

Masks must still be worn in taxis, on trains and buses, as well as health and social care settings when coronavirus restrictions are eased, the Welsh government said.

Meanwhile, on vaccines, Mr Zahawi dismissed a story in The Sunday Times which suggested the gap between receiving the two doses of the COVID jab could be cut to four weeks.

“The real-world data, the clinical data suggests that actually the eight-week interval offers that additional fortification in terms of protection with the two doses, at much better than having the interval shortened any further,” he told Sky News.

Labour’s Ms Green said her party would support reducing the time interval between two jabs if the Joint Committee on Vaccination and Immunisation (JCVI) recommended it.

“The priority, of course now, is also to make sure that people who have not been vaccinated at all get the vaccine, and it is concerning that the rate of vaccinations is slowing and that some groups are still not being able to come forward and be vaccinated,” she told Sky News.

All over 18s are now eligible to receive a COVID-19 vaccination in England.

Earlier this week, the government announced that from 16 August, double jabbed individuals and all children will no longer need to self-isolate if they are identified as a close contact of someone with COVID-19.

And Transport Secretary Grant Shapps also confirmed that fully vaccinated adults and all children will no longer have to quarantine on their return from amber list countries from 19 July.

Continue Reading

Politics

South Korea to impose bank-level liability on crypto exchanges after Upbit hack: Report

Published

on

By

South Korea to impose bank-level liability on crypto exchanges after Upbit hack: Report

South Korea is preparing to impose bank-level, no-fault liability rules on crypto exchanges, holding exchanges to the same standards as traditional financial institutions amid the recent breach at Upbit.

The Financial Services Commission (FSC) is reviewing new provisions that would require exchanges to compensate customers for losses stemming from hacks or system failures, even when the platform is not at fault, The Korea Times reported on Sunday, citing officials and local market analysts.

The no-fault compensation model is currently applied only to banks and electronic payment firms under Korea’s Electronic Financial Transactions Act.

The regulatory push follows a Nov. 27 incident involving Upbit, operated by Dunamu, in which more than 104 billion Solana-based tokens, worth approximately 44.5 billion won ($30.1 million), were transferred to external wallets in under an hour.

Related: Do Kwon says five-year US sentence is enough as he faces 40 years in South Korea

Crypto exchanges face bank-level oversight

Regulators are also reacting to a pattern of recurring outages. Data submitted to lawmakers by the Financial Supervisory Service (FSS) shows the country’s five major exchanges, Upbit, Bithumb, Coinone, Korbit and Gopax, reported 20 system failures since 2023, affecting over 900 users and causing more than 5 billion won in combined losses. Upbit alone recorded six failures impacting 600 customers.

The upcoming legislative revision is expected to mandate stricter IT security requirements, higher operational standards and tougher penalties. Lawmakers are weighing a rule that would allow fines of up to 3% of annual revenue for hacking incidents, the same threshold used for banks. Currently, crypto exchanges face a maximum fine of $3.4 million.

The Upbit breach has also drawn political scrutiny over delayed reporting. Although the hack was detected shortly after 5 am, the exchange did not notify the FSS until nearly 11 am. Some lawmakers have alleged the delay was intentional, occurring minutes after Dunamu finalized a merger with Naver Financial.

Related: South Korea targets sub-$680 crypto transfers in sweeping AML crackdown

South Korea pushes for stablecoin bill

As Cointelegraph reported, South Korean lawmakers are also pressuring financial regulators to deliver a draft stablecoin bill by Dec. 10, warning they will push ahead without the government if the deadline is missed.