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A former British spy who wrote a dossier on Donald Trump said he once spent hours with then home secretary Theresa May, briefing her on the Russia threat.

Christopher Steele also revealed he had been asked by a UK official to review sensitive government documents on Russia just days before his dossier, which alleged collusion between the Trump campaign and Moscow in the 2016 US election, became public.

It meant he was left feeling “surprised and disappointed”, he said, when Mrs May, as prime minister, then appeared to play down his links to the government.

Christopher Steele
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Christopher Steele claims he met Theresa May at her home

“It was quite galling to have announcements made… to the effect that this was nothing, we were nothing to do with the government, we hadn’t worked with or for the government for years and so on,” the former senior MI6 officer said in an exclusive Sky News interview.

He was referring to remarks by Mrs May in January 2017 after the dosser ignited a political firestorm in the United States, drawing furious denials from then president-elect Trump.

“It is absolutely clear that the individual who produced this dossier has not worked for the UK government for years,” she said at the time.

Yet Mr Steele said staff from Whitehall’s Joint Intelligence Committee had been sitting in his office about 10 days before news of the dossier broke because of the unrelated request for him to review “highly sensitive government papers on Russia”.

Steele on May

He also said that Mrs May would have known who he was because he had met her with his business partner, Christopher Burrows, another former intelligence officer, at the house of a mutual friend back in 2010 when she had just become home secretary.

The friend had suggested, “that we should get together and talk about some of these issues so that she got off to a good start and understood the sort of playbook and MO (modus operandi) of some of these Russian actors,” Mr Steele said.

Steele on May
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Theresa May downplayed links to Steele when his controversial dossier emerged

As for what they discussed, Mr Steele said: “There wasn’t really a lot of evidence of electoral meddling as such in 2010. But what we did say is that when you look at Russia, you can’t just take organised crime, oligarchs, government separately. You have to see them as a sort of plasma cloud that is linked in together and they are all operating with each other and for each other. And it’s a diffuse threat.”

In late 2016, before it became public, Mr Steele said he shared his work, investigating possible links between the Kremlin and Mr Trump, with senior British officials out of concern about what his sources were claiming.

He said he thought security officials had handled it correctly but he was not so sure about government ministers, noting how the focus had understandably been on delivering Brexit and adjusting to the unpredictability of an incoming Trump presidency.

The overall impression I had was that this was a problem they didn’t want to face up to,” he said.

Steele interview
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Christopher Steele spoke to Sky’s Deborah Haynes at Farnham Castle

A spokesperson for former prime minister Mrs May did not respond to a request for a comment.

Lord Mark Sedwill, who was her national security adviser, pushed back on Mr Steele’s assertion.

“Just because people outside government can’t necessarily see action, particularly when it relates to matters of intelligence and security, they shouldn’t assume that the action isn’t happening and it isn’t being dealt with seriously,” he said in an interview.

“Now, of course, the British government, as both Theresa May and Boris Johnson have said, has to have a good relationship with the president of the United States, whoever that is.

“But because he didn’t see action at the time that he was hoping to see does not mean it wasn’t taken seriously and any allegation of that kind is, of course, investigated properly and professionally.”

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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.