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Boris Johnson has insisted sleaze allegations levelled at the Conservatives will not affect voters’ choice in upcoming by-elections.

The prime minister visited Sidcup on Friday afternoon ahead of a vote next month to replace former minister James Brokenshire who died of cancer last month.

He said the local candidate in Old Bexley and Sidcup was strong enough to mean voters will back the Tories.

James Brokenshire
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James Brokenshire’s death has meant a by-election is happening in Old Bexley and Sidcup

Asked whether he feared public concern over standards would lose the Conservatives the Sidcup by-election, Mr Johnson said: “No, because Louie French is running a great campaign on the big issues that matter to people.

“(He is) building on the legacy of James Brokenshire, ensuring that Queen Mary Hospital has ever better faculties and making sure that we have ever safer streets in Greater London.”

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The PM’s faith in his party comes after leaked text messages seen by the Times suggested Culture Secretary Nadine Dorries accused fellow Tories of peddling “totally not true” predictions that the sleaze allegations over second jobs would hurt the party at the ballot box.

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However, new polling has the Tories losing their lead over Labour, or it being greatly reduced.

A YouGov poll carried out this week found the Conservatives and Labour would have an equal 35% of the vote share, while two thirds of voters view the Tories as “very sleazy”.

Another survey by Redfield and Wilton Strategies on Wednesday put Labour two points ahead of the Conservatives.

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Govt ‘needs to do better’ on sleaze

There is also suggestion of tension between Tory MPs elected in 2019 and more established MPs over the government forcing MPs to vote against suspending former cabinet minister Owen Paterson after he was found guilty of breaching lobbying rules.

Conservative MP James Sunderland, who was elected in 2019, said there was a “bit of tension” between the two groups and said the row, which he said had divided his party, had provided Labour with an opportunity to gain ground.

Mr Sunderland said: “The left are not in government, they want to be in government, and they’re looking for weakness.

“And I think in many ways, what has happened over the last week or so has provided that opportunity for them.”

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MPs who break rules ‘should be punished’ – PM

He added that the Tories need to “restore” their “reputational integrity” over the criticism.

Lord Evans, chairman of the committee on Standards in Public Life, argued that the public does care about issues such as standards.

“Standards matter for our democracy, they matter for our economic prosperity, and for our international influence and our foreign policy,” the former MI5 chief said.

“The past week has shown that standards do matter to the public. Ethical standards are important for making democracy work. The public does care about this.”

The Conservatives are also facing a by-election next month in Mr Paterson’s North Shropshire constituency after he resigned.

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Crypto firm LevelField secures Illinois approval to buy Chicago bank

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Crypto firm LevelField secures Illinois approval to buy Chicago bank

Digital asset-focused fintech firm LevelField Financial said it has secured conditional regulatory approval to acquire Chicago-based Burling Bank, marking one of the most notable crypto-banking acquisitions in recent months.

The move could see LevelField become the first Federal Deposit Insurance Corporation-insured chartered bank to offer certain crypto-integrated banking services across all US states and territories, LevelField said in a statement on Monday. Details of the deal weren’t disclosed.

The approval from the Illinois Department of Financial and Professional Regulation puts Burling Bank one step closer to being renamed LevelField Bank. The parties are still awaiting approval from the Board of Governors of the Federal Reserve to become a bank holding company.

The newly-branded LevelField would seek to offer 24/7/365 crypto-banking services, including Bitcoin (BTC)-backed loans, Bitcoin rewards credit and debit cards, as well as digital asset trading and custody services.

Burling Bank is a relatively small commercial bank, with around $196 million in net assets and roughly $158 million in customer deposits, according to Visbanking data. 

Source: Gene A. Grant II

LevelField will focus on serving businesses in under-banked sectors, all while benefiting from the security and regulatory oversight of the US banking system, CEO Gene A. Grant II said.

“Today’s approval is an important milestone for LevelField. I am grateful to our investors and partners for backing the patient, disciplined work it took to meet the necessary supervisory standards that protect consumers and businesses and make the US the home of the world leading banking system.”

Crypto industry’s relationship with banks remain tense

The move also strengthens ties between the crypto and banking sectors in the US, which continue to face friction despite a recent rise in institutional adoption.