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A requiem mass will be held at Westminster Cathedral later this morning in memory of Sir David Amess.

The mass will be presided over by Cardinal Vincent Nichols and a message from Pope Francis will be read out.

Sir David, a devout Catholic, will be buried in a private ceremony afterwards.

Pall bearers carry the coffin of Sir David Amess out of St Mary's Church in Prittlewell, Southend, following his funeral service. Picture date: Monday November 22, 2021.
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Pall bearers from Southend’s fire service carried Sir David’s coffin on Monday

It comes a day after the Southend West MP was mourned during a private service at St Mary’s Church in Prittlewell, Essex.

The father of five was stabbed to death while holding a constituency surgery at Belfairs Methodist Church in Leigh-on-Sea on 15 October.

During 38 years as an MP, Sir David was known as someone who fought for his constituents and for Southend, which he campaigned to be designated as a city – a wish granted after his death.

At Monday’s service, Sir David’s friend and colleague Mark Francois described him as the “original Essex cheeky chappy”.

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Mr Francois said in a eulogy: “Our electors employ us to represent them in a contract renewable every few years.

Members of the public pay their respects as the horse drawn hearse carrying the coffin of Sir David Amess, arrives at his constituency office at Iveagh Hall, in Leigh-on-Sea, following his funeral service. Picture date: Monday November 22, 2021.
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Sir David’s constituents applauded as the horse drawn hearse carrying his coffin went past

“We work for them and not the other way around, and no-one was ever more conscious of that than David Amess.

“Whatever one thinks of members of parliament, and opinions do vary, in my experience MPs of all parties do genuinely try and help other people.

“However, collectively in recent years we have perhaps not always helped ourselves, and I humbly suggest today that we need to learn from that.

“But, boy, did David Amess honour the contract with his employers – and in his own inimitable style.”

He added: “Whatever the weaknesses of parliament, David Amess was the living embodiment of all its strengths.”

Mourners lined the streets as Sir David’s coffin, draped in a Union Flag, was carried by pallbearers from Southend Fire Service.

The coffin was borne on a horse-drawn hearse for a procession through Southend, pausing in front of the civic centre, where hundreds of people gathered to pay their respects, many of them applauding.

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Japan’s FSA backs joint stablecoin initiative by nation’s top banks

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Japan’s FSA backs joint stablecoin initiative by nation’s top banks

Japan’s financial regulator, the Financial Services Agency (FSA), endorsed a project by the country’s largest financial institutions to jointly issue yen-backed stablecoins.

In a Friday statement, the FSA announced the launch of its “Payment Innovation Project” as a response to progress in “the use of blockchain technology to enhance payments.” The initiative involves Mizuho Bank, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi Corporation and its financial arm and Progmat, MUFG’s stablecoin issuance platform.

The announcement follows recent reports that those companies plan to modernize corporate settlements and reduce transaction costs through a yen-based stablecoin project built on MUFG’s stablecoin issuance platform Progmat. The institutions in question serve over 300,000 corporate clients.

The regulator noted that, starting this month, the companies will begin issuing payment stablecoins. The initiative aims to improve user convenience, enhance Japanese corporate productivity and innovate the local financial landscape.

Related: Japan regulator proposes crypto rule overhaul in line with securities law

The participating companies are expected to ensure that users are protected and informed about the systems they use. “After the completion of the pilot project, the FSA plans to publish the results and conclusions,” the announcement reads.

The announcement follows the Monday launch of Tokyo-based fintech firm JPYC’s Japan-first yen-backed stablecoin, along with a dedicated platform. The company’s president, Noriyoshi Okabe, said at the time that seven companies are already planning to incorporate the new stablecoin.

Related: Japan’s finance Minister endorses crypto as portfolio diversifier

Japanese regulators focus on crypto

Recently, Japanese regulators have been hard at work setting new rules for the cryptocurrency industry. So much so that Bybit, the world’s second-largest crypto exchange by trading volume, announced it will pause new user registrations in the country as it adapts to the new conditions.

Local regulators seem to be opening up to the industry. Earlier this month, the FSA was reported to be preparing to review regulations that could allow banks to acquire and hold cryptocurrencies such as Bitcoin (BTC) for investment purposes.

At the same time, Japan’s securities regulator was also reported to be working on regulations to ban and punish crypto insider trading. Following the change, Japan’s Securities and Exchange Surveillance Commission would be authorized to investigate suspicious trading activity and impose fines on violators.