Boris Johnson has committed to bringing the Online Harms Bill back to the Commons “before Christmas” in the first PMQs following the killing of Conservative MP Sir David Amess.
Sir Keir Starmer called on Boris Johnson to bring forward the second reading of the Online Harms Bill by the end of the calendar year in the first PMQs since Sir David’s death last Friday.
In the first meeting of the two party leaders in three weeks, Sir Keir warned: “It is three years since the government promised an Online Safety Bill but it is not yet before the House – meanwhile the damage caused by harmful content online is worse than ever.”
Image: Boris Johnson said the Online Harms Bill will come before Parliament before Christmas
The Labour leader said if the legislation is put in front of MPs before the end of 2021, his party will support it.
The PM thanked Sir Keir for his support and confirmed the Bill will return and “complete its stages” before the end of December.
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It had been expected that the Bill – which particularly focuses on how to protect young people online, but also contains plans on how to address terrorism and disinformation – would not return to the Commons until the New Year.
“The safety of MPs, indeed of all public servants, everybody who engages with the public is of vital importance,” Mr Johnson said.
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“The Online Safety Bill is of huge importance, it is one of the most important tools in our armoury.”
The PM also insisted new internet safety laws will impose “criminal sanctions with tough sentences” on those responsible for allowing “foul content” on their platforms.
The exchange came less than a week after Tory MP Sir David was stabbed to death in his constituency.
Image: Sir David Amess was killed in his constituency in Essex on Friday
Sir David, who represented Southend West in Essex, was holding a constituency surgery at Belfairs Methodist Church in Leigh-on-Sea when he was stabbed multiple times.
Ali Harbi Ali, who is 25-years-old, has been arrested on suspicion of his murder.
The PM told MPs his government are “ensuring that we crack down on companies that promote illegal and dangerous content”, adding: “We’ll be toughening up those provisions.”
Sir Keir called for “tough and effective sanctions” for those responsible for harmful online posts.
“It is frankly beyond belief that as the Mirror reported yesterday, 40 hours of hateful content from Anjem Choudary could be easily accessed online,” the Labour leader said.
Sir Keir urged the PM to bring an end to this “by making it clear that directors of companies are criminally liable for failing to tackle this type of material on their sites”.
He added that there is “a clear need for action”.
Mr Johnson replied that the government is working “with all parties” to tackle violent extremism and said UK has “one of the strongest counter terrorism and counter extremism systems in the world”.
Image: Sir Keir Starmer called on MPs to work together to combat violent extremism
The PM said he is “willing to look at anything to strengthen the legislation”, adding: “We will have criminal sanctions with tough sentences for those who are responsible for allowing this foul content to permeate the internet.”
The debate follows almost a week of MPs raising safety concerns in the wake of Sir David’s death.
A wider discussion has developed over the way politicians are targeted online.
Speaking to Sky News on Sunday, Home Secretary Priti Patel said MPs could be given police protection while they carry out constituency surgeries.
Ms Patel said “immediate” security changes are being offered to MPs after the killing and they are being asked to share their whereabouts with police, but she said she did not think it should change the nature of the relationship between MPs and constituencies.
Image: There was a calm mood in the Commons for the majority of the first PMQs since Sir David Amess’ killing
And Ms Patel did not rule out banning anonymity on social media in a bid to tackle “relentless” online abuse, declaring: “We can’t carry on like this.”
At the beginning of the session, Sir Keir called on all members of the House to work “together” to tackle issues relating to violent extremism.
The calm tone remained for the majority of PMQs, with the PM saying he is “delighted to join forces” on the matter.
Despite the rising COVID cases, there was no mention of the pandemic in the 30-minute questioning.
Prediction markets Polymarket and Kalshi view Kevin Hassett, US President Donald Trump’s National Economic Council director, as the favorite to replace Jerome Powell as the next Federal Reserve chair.
The odds of Hassett filling the seat have spiked to 66% on Polymarket and 74% on Kalshi at the time of writing. Hassett is widely viewed as crypto‑friendly thanks to his past role on Coinbase’s advisory council, a disclosed seven‑figure stake in the exchange and his leadership of the White House digital asset working group.
Founder and CEO of Wyoming-based Custodia Bank, and a prominent advocate for crypto-friendly regulations, Caitlin Long, commented on X:
“If this comes true & Hassett does become Fed chairman, anti-#crypto people at the Fed who still hold positions of power will finally be out (well, most of them anyway). BIG changes will be coming to the Fed.”
Hassett is a long-time Republican policy economist who returned to Washington as Trump’s top economic adviser and has now emerged as the market-implied frontrunner to lead the Fed.
His financial disclosure reveals at least a seven‑figure Coinbase stake and compensation for serving on the exchange’s Academic and Regulatory Advisory Council, placing him unusually close to the crypto industry for a potential Fed chair.
Still, crypto has been burned before by reading too much into “crypto‑literate” resumes. Gary Gensler arrived at the Securities and Exchange Commission with MIT blockchain courses under his belt, but went on to preside over a wave of high‑profile enforcement actions, some of which critics branded as “Operation Chokepoint 2.0.”
A Hassett-led Fed might be more open to experimentation and less reflexively hostile to bank‑crypto activity. Still, the institution’s mandate on financial stability means markets should not assume a one‑way bet on deregulation.
The Hassett odds have jumped just as the Fed’s own approach to bank supervision has received pushback from veterans like Fed Governor Michael Barr, who earned his reputation as one of Operation Chokepoint 2.0’s key architects.
According to Caitlin Long, while he Barr “was Vice Chairman of Supervision & Regulation he did Warren’s bidding,” and he “has made it clear he will oppose changes made by Trump & his appointees.”
On Nov. 18, the Fed released new Supervisory Operating Principles that shift examiners toward a “risk‑first” framework, directing staff to focus on material safety‑and‑soundness risks rather than procedural or documentation issues.
In a speech the same day, Barr warned that narrowing oversight, weakening ratings frameworks and making it harder to issue enforcement actions or matters requiring attention could leave supervisors slower to act on emerging risks, arguing that gutting those tools may repeat pre‑crisis mistakes.
Days later, in Consumer Affairs Letter 25‑1, the Fed clarified that the new Supervisory Operating Principles do not apply to its Consumer Affairs supervision program (an area under Barr’s committee as a governor).
If prediction markets are right and a crypto‑friendly Hassett inherits this landscape, his Fed would not be writing on a blank slate but stepping into an institution already mid‑pivot on how hard (and where) it leans on banks.
HashKey Holdings, the parent company of one of Hong Kong’s biggest licensed crypto exchanges, moved a step closer to a public listing, according to new filings from the Hong Kong Stock Exchange (HKEX).
On Monday, the HKEX published a 633-page post-hearing information pack for HashKey Holdings. The document was published at the request of The Stock Exchange of Hong Kong Limited and the local financial regulator, the Securities and Futures Commission (SFC).
A post-hearing information pack is only published after HKEX’s listing committee formally clears an applicant at the listing hearing. In other words, without explicitly stating it, this document indicates that HashKey has moved closer to listing on the exchange and is progressing toward its initial public offering (IPO).
At the same time, the document stressed that the deal is not yet finalized. “The listing application referred to in this document has not yet been approved; the HKEX and the SFC may accept, return, or reject the public offering and/or listing application.”
This is standard HKEX disclaimer language and does not contradict HashKey’s approval. Instead, it refers to the listing being dependent on completing the offering documents.
Hong Kong Exchange trade lobby in 2007. Source: Wikimedia
HashKey’s IPO is likely to attract significant attention
The news follows early October reports that HashKey was aiming for an IPO and a listing in Hong Kong this year. At the time, the report was largely based on rumors, citing anonymous sources with purported knowledge of the matter.
HashKey is Hong Kong’s top crypto exchange with a 24-hour volume of nearly $108 million at the time of writing, according to CoinGecko data. The information pack also listed the world’s top bank, JPMorgan, and local financial institutions Guotai Junan International and Haitong International as joint sponsors for the listing.
Interest in the offering is likely high, considering that in mid-February, China-based Gaorong Ventures reportedly invested $30 million in HashKey, granting it unicorn status. The pre-money valuation of the investment was purportedly almost $1.5 billion, but reports cited unidentified sources that could not be independently verified.
This was followed by reports in late October that Chinese technology giants, including Ant Group and JD.com, had reportedly suspended plans to issue stablecoins in Hong Kong due to regulatory concerns. On Saturday, the People’s Bank of China — mainland China’s central bank — said after a meeting with 12 other agencies that “virtual currency speculation has resurfaced,” reiterating that “virtual currency-related business activities constitute illegal financial activities,” in line with its 2021 ban on crypto trading and mining.
Sony Bank, the online lending subsidiary of Sony Financial Group, is reportedly preparing to launch a stablecoin that will enable payments across the Sony ecosystem in the US.
Sony is planning to issue a US dollar-pegged stablecoin in 2026 and expects it to be used for purchases of PlayStation games, subscriptions and anime content, Nikkei reported on Monday.
Targeting US customers — who make up roughly 30% of Sony Group’s external sales — the stablecoin is expected to work alongside existing payment options such as credit cards, helping reduce fees paid to card networks, the report said.
Sony Bank applied in October for a banking license in the US to establish a stablecoin-focused subsidiary and has partnered with the US stablecoin issuer Bastion. Sony’s venture arm also joined Bastion’s $14.6 million raise, led by Coinbase Ventures.
Sony Bank has been actively venturing into Web3
Sony Bank’s stablecoin push in the US comes amid the company’s active venture into Web3, with the bank establishing a dedicated Web3 subsidiary in June.
“Digital assets utilizing blockchain technology are incorporated into a diverse range of services and business models,” Sony Bank said in a statement in May.
“Financial services, such as wallets, which store NFT (non-fungible tokens) and cryptocurrency assets, and crypto exchange providers are becoming increasingly important,” it added.
Sony Bank established a Web3 subsidiary with an initial capital of 300 million yen ($1.9 million) in June 2025. Source: Sony Bank
The Web3 unit, later named BlockBloom, aims to build an ecosystem that blends fans, artists, NFTs, digital and physical experiences, and both fiat and digital currencies.
Sony Bank’s stablecoin initiative follows the recent spin-off of its parent, Sony Financial Group, which was separated from Sony Group and listed on the Tokyo Stock Exchange in September.
The move was intended to decouple the financial arm’s balance sheet and operations from the broader Sony conglomerate, allowing each to sharpen its strategic focus.
Cointelegraph reached out to Sony Bank for comment regarding its potential US stablecoin launch, but had not received a response by the time of publication.