Ministers are continuing their scramble for a co-ordinated international response to the crisis in Afghanistan following the Taliban’s dramatic takeover.
Prime Minister Boris Johnson on Wednesday night resumed his series of calls with world leaders following the fall of the central Asian country to the extremist group.
He spoke with Italian Prime Minister Mario Draghi, having also this week held talks with the leaders of France, Germany, the US and Pakistan.
Image: Dominic Raab will speak with other G7 foreign ministers
Foreign Secretary Dominic Raab also continued with efforts to come up with a joint global response by speaking with his Indian and American counterparts.
However, Mr Raab was hit with calls to resign from opposition MPs following claims he last week failed to immediately ask Afghanistan’s foreign minister for urgent assistance in evacuating Afghan interpreters who had worked for the UK military.
According to the Daily Mail, the foreign secretary – while on holiday with his family in Crete – was advised by officials on Friday to speak with Hanif Atmar as the Taliban advanced on Kabul.
But, the newspaper said, officials were told Mr Raab was not available and that another foreign office minister should speak with Mr Atmar.
More on Afghanistan
This is a dereliction of duty.
Failing to make a call has put the lives of brave interpreters at risk, after they served so bravely with our military.
The report said that Mr Raab ended up not speaking with his Afghan counterpart until at least the next day, after the Afghan foreign ministry refused to set up a call with the more junior UK minister.
A foreign office spokesperson said: “The foreign secretary was engaged on a range of other calls, and this one was delegated to another minister.”
Labour’s shadow home secretary Nick Thomas-Symonds accused Mr Raab of a “dereliction of duty”, adding: “Failing to make a call has put the lives of brave interpreters at risk, after they served so bravely with our military. Utterly shameful.”
On Thursday, Mr Raab will join a virtual meeting of G7 foreign ministers.
This will precede a planned virtual meeting of G7 leaders early next week – set to be held more than seven days since Afghanistan’s capital Kabul was seized by the Taliban.
The virtual talks will come as European leaders struggle to hide their frustration with US President Joe Biden’s handling of the withdrawal of American troops from Afghanistan.
However, Mr Biden has remained defiant about his decision to pull-out US soldiers and, on Wednesday night, once again refused to take questions following a live televised statement from the White House.
The prime minister used his address to parliament to promise a doubling of UK aid to Afghanistan this year to £286m.
The government – which has cut the UK’s overall foreign aid budget – is also calling on other nations to boost humanitarian assistance to Afghanistan.
The UK will double its humanitarian and development aid to Afghanistan to £286m this year. We call on others to follow our lead to ensure the most vulnerable Afghans receive the humanitarian assistance they need.
Downing Street said Mr Johnson, in his talks with Mr Draghi, had “outlined his five-point proposal for the international community to support the people of Afghanistan and to contribute to regional stability”.
The continuing immediate priority for many countries is the evacuation of their nationals from Kabul, with the US warning on Wednesday night that it could not ensure safe passage for those attempting to reach the city’s airport.
The US also said it does not currently have the capability to evacuate large numbers of Americans who are outside Kabul.
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Biden snubs Afghanistan questions
As of 8am on Wednesday, the UK had evacuated approximately 1,200 people from Kabul on military flights.
This includes around 300 British nationals, with the other 900 predominantly individuals resettled under the scheme for those Afghans who were employed locally by the UK, along with a small number of Afghans who are dependents of British nationals.
The government has also promised to welcome up to 5,000 of the most vulnerable Afghans to the UK in the first year of a bespoke refugee scheme, and up to 20,000 in future years.
A Downing Street spokesperson said: “Today the prime minister set out the UK’s significant offer to address the humanitarian crisis in Afghanistan – doubling our humanitarian aid to the region and establishing one of the most generous asylum schemes in British history.
“He also outlined the UK’s broader strategy for Afghanistan and the region, including the need to unite the international community behind a clear plan for dealing with the Taliban regime in a unified and concerted way.
“We are now asking our international partners to match the UK’s commitments and work with us to offer a lifeline to Afghanistan’s most vulnerable people.”
Cryptocurrency scammers have impersonated Australian police and exploited government infrastructure to pressure victims into handing over their digital assets, the Australian Federal Police (AFP) said Thursday.
The AFP said scammers used the local cybercrime reporting tool ReportCyber to submit reports about their targets. At a later time, they contact the victims posing as police and inviting them to check the report on government websites, lending credibility to the scammers.
In one case, the scammers warned the victim that they would be contacted by a representative from a crypto company, who would also provide information to prove their legitimacy. This second caller then attempted to persuade the target to transfer money from their platform wallet to a wallet of their choice.
“Thankfully the target became suspicious and hung up,“ the AFP said.
AFP Detective Superintendent Marie Andersson said the scammers falsely claimed that an individual had been arrested and the victim identified in an investigation involving a crypto breach. She noted that the scammers’ verification steps often resembled legitimate law-enforcement procedures, making the scheme “highly convincing” to some victims.
Andersson said this was part of a broader trend in scams becoming increasingly sophisticated. She encouraged “Australians to adopt necessary safety measures online” and warned that “if you’re contacted by someone about a ReportCyber report you didn’t lodge or authorise someone to make on your behalf, terminate the call and notify ReportCyber.
“Also bear in mind legitimate law enforcement officials will never request access to your cryptocurrency accounts, wallets, bank accounts, cryptocurrency wallet seed phrases, or any personal information relating to your financial accounts.”
In late October, the AFP announced that it had cracked a coded cryptocurrency wallet backup containing 9 million Australian dollars ($5.9 million) — suspected to be the proceeds of a crime.
In late August, Australia’s markets regulator was reported to be expanding its campaign against online scams, having taken down 14,000 since July 2023, with over 3,000 involving cryptocurrency.
In July, authorities in the Australian island state of Tasmania found that the top 15 users of crypto ATMs in the state were all victims of scams, with combined losses of $1.6 million.
Taiwan is preparing to issue a report on its Bitcoin holdings, signaling that officials are weighing whether the country should follow the United States in creating a national Bitcoin reserve.
Zhuo Rongtai, premier of the Republic of China (Taiwan), said the country is preparing a report to assess the total amount of Bitcoin (BTC) confiscated by domestic agencies.
The report will be issued before the end of the year, said Rongtai during a legislative general fiscal inquiry meeting with the Finance Committee on Tuesday.
When asked about the fate of the confiscated Bitcoin, legislator Ge Rujun proposed that Taiwan’s government “hold it unchanged” before deciding whether to liquidate the assets or include them in a strategic reserve, according to local media outlet Blocktempo.
Rongtai’s forthcoming report will also include a list of “pros and cons” for creating a strategic Bitcoin reserve, marking the first time Taiwanese officials have publicly considered BTC as a reserve asset.
The premier’s pledge to “study” Bitcoin for a strategic reserve asset and draft more Bitcoin-friendly regulations in the next six months is a “breakthrough” for the country, wrote Ko Ju-Chun, a lawmaker in Taiwan’s unicameral legislature, the Legislative Yuan, in a Tuesday X post.
Governmental interest in Bitcoin started rising after March 7, when US President Donald Trump signed an executive order outlining a plan to create a Strategic Bitcoin Reserve, initially using cryptocurrency forfeited in government criminal cases, Cointelegraph reported.
The Bitcoin reserve marked the “first real step toward integrating Bitcoin into the fabric of global finance, acknowledging its role as a foundational asset for a more stable and sound monetary system,” said Joe Burnett, head of market research at Unchained, at the time.
Taiwan legislators are calling for a Bitcoin reserve as a hedge against global uncertainty
While Taiwan has yet to make an official move, lawmakers have previously called for the creation of a Bitcoin reserve.
In May, Ju-Chun called for the government to consider adding Bitcoin to its national reserve, citing Bitcoin’s potential to serve as a hedge amid global economic uncertainty, during a speech to the Taiwanese government at the National Conference on May 9.
Ko Ju-Chun advocated for the adoption of Bitcoin by the Taiwanese government before the Legislative Yuan. Source: Ko Ju-Chun
The lawmaker previously suggested a maximum allocation of 5% of Taiwan’s $50 billion reserve.
Taiwan has been exploring more crypto-friendly regulations to bolster institutional cryptocurrency adoption. In October 2024, the Financial Supervisory Commission (FSC) of Taiwan announced the launch of a trial for crypto custody services for financial institutions.
The crypto community is bracing for the launch of the first spot XRP exchange-traded fund (ETF) after Nasdaq certified the listing of Canary Capital’s XRP ETF.
The Nasdaq Stock Market exchange on Wednesday officially notified the US Securities and Exchange Commission that it has received the Form 8‑A filing for the Canary XRP ETF (XRPC).
“The official listing notice for XRPC has arrived from Nasdaq,” Bloomberg’s senior ETF analyst Eric Balchunas wrote on X, adding: “Looks like tomorrow is on for the launch.”
While ETF watchers expect Canary’s spot XRP (XRP) ETF to debut trading on Thursday, the SEC has yet to issue its final approval for trading to commence, leaving the debut uncertain heading into the market open.
The sixth single crypto asset ETF
Nate Geraci, president of NovaDius Wealth Management, took to X on Thursday to report that Canary had launched its website for the Canary XRP ETF, highlighting the likely soon-to-come trading launch.
“Canary Capital will be first to market,” Geraci said, adding that its XRP ETF would be the sixth single crypto asset in the ETF wrapper after Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC) and Hedera (HBAR).
Source: Eric Balchunas
Other industry observers, including Crypto America’s Eleanor Terrett, shared optimism on X, noting that Nasdaq had “cleared XRPC for launch at market open” on Thursday, but some cautioned that the exchange’s letter was procedural and does not authorize trading.
“The Nasdaq letter itself does not say the ETF is effective — it only says Nasdaq approved the listing and joined the registrant’s request for SEC effectiveness,” one commentator wrote, adding that the certification is a “routine procedural letter, not confirmation that trading will start.”
With trading going live on Oct. 28, some ETF observers have suggested that these new crypto funds relied on “automatic effectiveness” provisions during the government shutdown.