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Conservative MP and former cabinet minister James Brokenshire has died at the age of 53, his family has said.

The MP for Old Bexley and Sidcup announced in August that his lung cancer had “progressed” and that he would be beginning a new line of treatment.

Mr Brokenshire stepped down as security minister in July this year after admitting his cancer recovery was taking “longer than expected”.

He had his right lung removed as part of his treatment in February this year and had said stepping down from his Home Office ministerial role would allow him to focus on his health.

Northern Ireland Secretary of State James Brokenshire speaks to media outside Stormont Castle in Belfast, Northern Ireland March 7, 2017. REUTERS/Clodagh Kilcoyne
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James Brokenshire was first diagnosed with lung cancer in 2018

In a statement, Mr Brokenshire’s family said: “It is with deep sadness that we announce the death of James Brokenshire MP at the age of 53.

“James died peacefully at Darent Valley Hospital yesterday evening with family members by his bedside. He had been in hospital since Sunday after his condition rapidly deteriorated.

“James was not only a brilliant government minister as both Security and Immigration minister at the Home Office and secretary of state at the Northern Ireland Office and Ministry for Housing, Communities & Local Government, but a dedicated constituency MP, first for Hornchurch from 2005 to 2010, and then for Old Bexley & Sidcup for the past 11 years.

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“But most importantly, he was a loving father to his three children, a devoted husband to Cathy and a faithful friend to so many.

“We would like to thank all the NHS staff, particularly those at Guy’s & St Thomas’ in London, who cared for James with such warmth, diligence and professionalism over the past three-and-a-half years.

“We would also ask that our privacy as a family is respected at this time.”

Mr Brokenshire was first elected to Parliament in 2005 and also served as housing secretary under former PM Theresa May.

The father of three was first diagnosed with lung cancer in 2018 after he coughed up a spot of blood during an event at Hillsborough Castle as Northern Ireland Secretary.

He subsequently stepped down from his Cabinet role to undergo treatment.

After getting the all clear, he was appointed by Boris Johnson to the Home Office in February 2020.

However, the MP stepped back from his government role in January 2021 after discovering his lung cancer had returned.

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

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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.