The situation at Kabul airport is “stabilising”, Dominic Raab has said, after crowds rushed to flee the city.
The foreign secretary admitted he was taken by “surprise” at the speed of the Taliban’s advance over the weekend, but vowed the efforts of veterans in the conflict “wasn’t all for nothing”.
It comes as scenes of chaos were seen at Kabul’s airport on Monday as thousands of desperate Afghans, foreign diplomats and officials attempt to flee Afghanistan.
Image: Britons landed at RAF Brize Norton after being evacuated from Afghanistan. Pic: MoD
“The position at the airport is stabilising. There’s been a surge of US and UK troops – we’ve got 600 extra personnel there,” Mr Raab told Kay Burley on Sky News.
“It is critically important, not just for the stability on the ground for Afghans, but critically for our evacuation effort.
“We’ve made real progress. We had 150 British nationals come out on Sunday. Over the last week we have also had 289 of those Afghan nationals who have served the UK so loyally in Afghanistan.
“And we expect over the next 24 hours to have 350 more British nationals and Afghan nationals who have worked for us coming out.
More on Dominic Raab
“So the situation is stabilising but obviously we are monitoring it very carefully.
“I do think that the airport is more stable today than it was yesterday, and we need to make sure that we consolidate that in the days ahead.”
Image: President Biden said the options were to pull US forces out of Afghanistan or fight ‘indefinitely’
The foreign secretary said “no one” predicted the speed of the Taliban takeover or the western-backed Afghan government’s collapse.
He told Sky News: “We saw a very swift change in the dynamics. And of course this has been part and parcel of the withdrawal of western troops, but it has also been the way and the approach of the Taliban and of course it’s been a test for the Afghan security forces.
“All of those factors have been very fluid. But no one saw this coming. Of course we would have taken action if we had.”
Mr Raab added that “in retrospect” he “wouldn’t have gone on holiday” if he had known what was going to happen in Kabul.
The foreign secretary said the UK government must “deal with that reality” that the Taliban are now in power in Afghanistan, adding that ministers will be “pragmatic” about the situation.
Asked to confirm the UK will not return to Afghanistan, Mr Raab said troops are “clearly withdrawing”.
Image: Many have tried to break in to Kabul airport to board an evacuation flight out of Afghanistan
He added that events in Afghanistan could have a “ricochet effect” in the UK.
Many Afghans descended on Kabul airport on Monday desperate to leave Afghanistan after the Taliban seized Kabul during the weekend.
The fear many Afghans have of Taliban rule was vividly captured in a photograph taken from inside a US military flight out of Kabul which was carrying some 640 passengers – reportedly more than five times its suggested payload.
Some clung to another plane as it taxied and video footage showed at least one person falling from the aircraft during take-off.
At least five people were killed during chaos on the ground, with US troops firing into the air to deter people trying to force their way onto flights evacuating diplomats and embassy staff.
There are also concerns that the Taliban will resume the harsh practices it used during its last rule between 1996 and 2001, with stoning, whipping, hanging and amputation used as punishment.
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The defence secretary teared up while speaking to LBC’s Nick Ferrari on Monday about his fear some people won’t be able to leave Afghanistan
US President Joe Biden spoke on Monday evening, insisting he had no choice but to implement the withdrawal agreed between his Republican predecessor Donald Trump and the Taliban last year.
Mr Biden said his options were to pull US forces out of Afghanistan or to ask them to fight what he described as the country’s civil war indefinitely.
Afghan president Ashraf Ghani fled the country on Sunday.
On Monday, Defence Secretary Ben Wallace told Sky News that British forces going back to Afghanistan is “not on the cards”.
The Taliban has now seized control of all major cities after insurgents took control of the capital. As of Monday, fighters claimed around 90% of Afghan state buildings are under the control of militants.
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Brazil’s central bank completed rules that bring crypto companies under banking-style oversight, classifying stablecoin transactions and certain self-custody wallet transfers as foreign-exchange operations.
Under Resolutions 519, 520 and 521, published Monday, the Banco Central do Brasil (BCB) established operational standards and authorization procedures for what it calls Sociedades Prestadoras de Serviços de Ativos Virtuais (SPSAVs), a new category of licensed virtual-asset service providers operating in the country.
The framework extends existing rules on consumer protection, transparency and Anti-Money Laundering (AML) to crypto brokers, custodians and intermediaries.
The rules will take effect on Feb. 2, 2026, with mandatory reporting for capital-market and cross-border operations set to begin on May 4, 2026.
Stablecoins under foreign exchange rules
Under Resolution 521, a purchase, sale or exchange of fiat-pegged virtual assets, including international transfers or payments using such assets, will be treated as foreign-exchange (FX) operations.
With this classification, stablecoin activity will be subject to the same scrutiny as cross-border remittances or currency trades.
Licensed FX institutions and the new SPSAVs will be able to perform these operations, subject to documentation and value limitations. According to the BCB, transactions with unlicensed foreign counterparts will be capped at $100,000 per transfer.
The rules also cover transfers to and from self-custodied wallets when intermediated by a service provider. This means that providers must identify the wallet’s owner and maintain their processes that verify the origin and destination of the assets, even if the transfer itself isn’t cross-border.
This provision extends AML and transparency obligations to areas previously considered outside the scope of regulated finance.
While the rules don’t explicitly ban self-custody, they close a key reporting gap, forcing regulated exchanges and brokers to treat wallet interactions like formal FX operations.
BCB says the goal is to promote efficiency and legal certainty
In the announcement, the BCB said its goal is to ensure “greater efficiency and legal certainty,” prevent regulatory arbitrage and align crypto activities with the country’s balance-of-payments (BoP) statistics, which means making stablecoin transfers visible in official financial data.
The move follows months of public consultation and growing concern from the central bank on the dominance of stablecoin use in Brazil. On Feb. 7, BCB President Gabriel Galipolo said that around 90% of crypto activity in Brazil involved stablecoins, mainly used for payments.
Galipolo said the widespread use of stablecoins in payments presented regulatory and oversight challenges, particularly in areas such as money laundering and taxation.
Brazil’s central bank said the new framework aims to curb scams and illicit activity while providing legal clarity to crypto markets.
For crypto builders, this may raise compliance costs and reshape how local platforms interact with global liquidity. Smaller crypto players will be forced to compete with bigger institutions and meet more stringent banking-grade standards.
The rules will take effect in February 2026, but market participants are expected to start restructuring before then.
For Brazil, where crypto activity is second only to Argentina in Latin America, the new regulations signal a decisive shift from experimentation to integrated oversight.
The new rules show that crypto is welcome in the Brazilian financial ecosystem, but it will have to play by the same rules as fiat money.
Institutional investors are maintaining confidence in digital assets despite a sharp market correction in October, with most planning to expand their exposure in the months ahead, according to new research.
Over 61% of institutions plan to increase their cryptocurrency investments, while 55% hold a bullish short-term outlook, Swiss crypto banking group Sygnum said in a report released on Tuesday. The survey covered 1,000 institutional investors globally.
Roughly 73% of surveyed institutions are investing in crypto due to expectations of higher future returns, despite the industry still recovering from the record $20 billion market crash at the beginning of October.
However, investor sentiment continues facing uncertainty due to delays in key market catalysts, including the Market Structure bill and the approval of more altcoin exchange-traded funds (ETFs).
While this uncertainty may carry over into 2026, Sygnum’s lead crypto asset ecosystem researcher, Lucas Schweiger, predicts a maturing digital asset market, where institutions seek diversified exposure with long-term growth expectations.
“The story of 2025 is one of measured risk, pending regulatory decisions and powerful demand catalysts against a backdrop of fiscal and geopolitical pressures,” he said, adding:
“But investors are now better informed. Discipline has tempered exuberance, but not conviction, in the market’s long-term growth trajectory.”
Despite October’s correction, “powerful demand catalysts” and institutional participation remained at an all-time high, with the growing ETF applications signaling more institutional demand, added Schweiger.
Crypto staking ETFs may be the next institutional catalyst
Crypto staking ETFs may present the next fundamental catalyst for institutional cryptocurrency demand.
Over 80% of the surveyed institutions expressed interest in crypto ETFs beyond Bitcoin (BTC) and Ether (ETH), while 70% stated that they would start investing or increase their investments if these ETFs offered staking rewards.
Staking means locking your tokens into a proof-of-stake (PoS) blockchain network for a predetermined period to secure the network and earn passive income in exchange.
Meanwhile, investors are now anticipating the end of the government shutdown, which could bring “bulk approvals” for altcoin ETFs from the US Securities and Exchange Commission, catalyzing the “next wave of institutional flows,” according to Sygnum.