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Owen Paterson will resign as the MP for North Shropshire in order to escape “the cruel world of politics” following a furious row over his proposed ban from the House of Commons.

The Conservative former cabinet minister has been at the centre of a scandal after it was recommended he be suspended for 30 days.

Mr Paterson, who has been an MP for 24 years, was found by parliament’s independent sleaze investigator to have broken lobbying rules during his £110,000-a-year private sector work.

Secretary of State for Northern Ireland Owen Paterson (left) and London Mayor Boris Johnson during the unveiling a life-size mock-up of the new hop-on, hop-off double-decker bus for London based on the driver-and-conductor Routemaster in Acton in west London.
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Prime Minister Boris Johnson had encouraged MPs to save Mr Paterson from immediate suspension

On Wednesday, Conservative MPs – with the encouragement of Prime Minister Boris Johnson – passed a motion in favour of ignoring Mr Paterson’s month-long Commons suspension.

As part of the backlash, the government was accused of “corruption” in seeking to overhaul parliament’s standards rules in an alleged effort to protect the Tory MP.

In the face of a huge outcry, the government performed a U-turn in the row on Thursday with the promise of a new vote on Mr Paterson’s suspension.

But, just hours later, the 65-year-old announced his intention to resign from the House of Commons.

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“I have today, after consultation with my family, and with much sadness decided to resign as the MP for North Shropshire,” he said.

Analysis by Jon Craig, chief political correspondent

Owen Paterson has jumped before he was pushed. Or was he pushed?

After the government’s spectacular U-turn following a furious backlash from MPs of all parties, it was almost inevitable that next week’s Commons vote on his suspension would go against him.

With that would have come the humiliating prospect of a recall petition and likely by-election, which even though he could have stood again he would almost certainly have lost.

His North Shropshire constituency is a blue chip Tory seat where he had a majority of just under 23,000 at the last election.

But under the rules on the recall of MPs it only requires 10% of the electorate in a constituency to trigger a by-election. In the case of Shropshire North that means 10% of 77,673: fewer than 8,000.

On reflection, Mr Paterson may be regretting the defiant, unapologetic tone of his Sky News interview after his Commons reprieve 24 hours earlier, when he brazenly declared he would not hesitate to do the same again.

He appears to have jumped before he was pushed, but it’s entirely possible that he has been ordered to go by the Number 10 machine or the chief whip, Mark Spencer.

Despite his protestations of innocence, he has brought disgrace on the Conservative Party and the prime minister and, one way or another, he had to go.

“The last two years have been an indescribable nightmare for my family and me. My integrity, which I hold very dear, has been repeatedly and publicly questioned.

“I maintain that I am totally innocent of what I have been accused of.”

Mr Paterson was last month found by a Commons watchdog to have “repeatedly used his privileged position” to benefit Randox, a clinical diagnostics company, and Lynn’s Country Foods, a meat processor and distributor.

He has continually declared himself “not guilty” and strongly criticised the investigation into his private sector work, which he said saw him raise serious issues about food contamination during his contact with officials.

Mr Paterson has also said the investigation into him “undoubtedly played a major role” in his wife, Rose Paterson, taking her own life in June last year.

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Paterson: ‘I wouldn’t hesitate to do it again’

In his resignation statement, he maintained that he “acted at all times in the interests of public health and safety” and claimed the current standards system in parliament would leave him “unable to clear my name”.

“Far, far worse than having my honesty questioned was, of course, the suicide of my beloved and wonderful wife, Rose,” he added.

“She was everything to my children and me. We miss her everyday and the world will always be grey, sad and ultimately meaningless without her. The last few days have been intolerable for us.

“Worst of all was seeing people, including MPs, publicly mock and deride Rose’s death and belittle our pain. My children have therefore asked me to leave politics altogether, for my sake as well as theirs.

“I agree with them. I do not want my wife’s memory and reputation to become a political football. Above all, I always put my family first.”

Mr Paterson admitted his decision to resign was “painful” but “the right one”.

Britain's Secretary of State for Northern Ireland Owen Paterson leaves 10 Downing Street after a cabinet meeting, in central London, June 15, 2010. REUTERS/Andrew Winning (BRITAIN - Tags: POLITICS BUSINESS)
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The 65-year-old is a former cabinet minister and had been an MP for 24 years

Labour leader Sir Keir Starmer demanded an apology from the prime minister following the Westminster row over Mr Paterson’s suspension.

“This has been an unbelievable 24 hours even by this government’s chaotic standards,” he said.

“Only yesterday Boris Johnson was forcing his MPs to rip up the rules on standards in public life is a truly damning indictment of this prime minister and the corrupt government he leads.

“Boris Johnson must now apologise to the entire country for this grubby attempt to cover up for the misdemeanour of his friend.

“This isn’t the first time he’s done this but it must be the last. And Boris Johnson must explain how he intends to fix the immense harm he has done to confidence in the probity of him and his MPs.”

Anyone feeling emotionally distressed or suicidal can call Samaritans for help on 116 123 or email jo@samaritans.org in the UK. In the US, call the Samaritans branch in your area or 1 (800) 273-TALK

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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.