By-election results: Who are the new MPs in Uxbridge and South Ruislip, Selby and Ainsty, and Somerton and Frome?

Published

2 years ago

July 21, 2023

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After the three by-elections – in Uxbridge and South Ruislip, Selby and Ainsty, and Somerton and Frome – there will be three new MPs taking their seats in parliament.

The elections took place following the resignations of three Conservatives – Boris Johnson, Nigel Adams and David Warburton.

The Conservatives saw significant defeats in Selby to Labour, and to the Lib Dems in Somerton and Frome, but were able to win a narrow victory in Uxbridge.

So who are the new MPs that will be taking their seats in parliament after the summer recess?

Follow by-election coverage live:
Reaction as Tories hang on in Uxbridge

Keir Mather

Labour’s 25-year-old Keir Mather was declared the winner of the by-election in Selby and Ainsty in North Yorkshire.

Mr Mather works as a senior public affairs adviser for the Confederation of British Industry and before that was a parliamentary researcher for shadow health secretary Wes Streeting.

At just 25, he is now the youngest MP in the Commons – replacing Labour’s Nadia Whittome as the so-called Baby of the House.

The Oxford graduate, from Hull, has said his age means he can relate to younger voters who are struggling to get on the housing ladder and facing a lack of economic opportunity.

His campaign centred on the cost of living crisis, public transport and NHS waiting lists, as well as local issues such as flooding and sewage, and anti-social behaviour.

Labour overturned a Conservative majority of 20,137 with his win – the largest majority reversed at a by-election.

Mr Mather won 16,456 votes, compared to the 12,295 cast for the Tory candidate Claire Holmes. This equals a majority of 4,161.

Steve Tuckwell

Steve Tuckwell will succeed Boris Johnson as the Conservative MP for Uxbridge and South Ruislip, after a hard fought battle with Labour in west London.

Mr Tuckwell was declared the winner after a speedy recount – but he only secured a majority of 495.

The former postie is a lifelong resident of South Ruislip and has represented the area as a ward councillor since 2018.

He has sought to distance himself from Mr Johnson by focusing his campaign on local issues, declaring the vote a “referendum” on ULEZ – the controversial plan to expand the zone where people have to pay a £12.50 daily fee to drive in London if their vehicle does not meet emission standards.

Mr Tuckwell argues the charge will devastate businesses and cost families up to £4,500 a year.

Analysis:
Why PM is on course to lose next election
The most worrying result for the Tories

Sarah Dyke

Lib Dem Sarah Dyke, who lives in the Somerton and Frome constituency that she will now represent, has said her farming family can trace their local roots back over more than 250 years.

She has represented Blackmoor Vale on Somerset unitary council since the 2022 local elections, where she defeated Hayward Burt, CCHQ’s resident expert on conquering Liberal Democrats.

She holds the council’s portfolio for the environment and climate change.

She was selected as the party’s prospective parliamentary candidate back in May 2022.

Politics

China selling seized crypto to top up coffers as economy slows: Report

Published

4 hours ago

April 16, 2025

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China selling seized crypto to top up coffers as economy slows: Report

Local governments in China are reportedly seeking ways to offload seized crypto while facing challenges due to the country’s ban on crypto trading and exchanges.

The lack of rules around how authorities should handle seized crypto has spawned “inconsistent and opaque approaches” that some fear could foster corruption, lawyers told Reuters for an April 16 report.

Chinese local governments are using private companies to sell seized cryptocurrencies in offshore markets in exchange for cash to replenish public coffers, Reuters reported, citing transaction and court documents.

The local governments reportedly held approximately 15,000 Bitcoin (BTC) worth $1.4 billion at the end of 2023, and the sales have been a significant source of income.

China holds an estimated 194,000 BTC worth approximately $16 billion and is the second largest nation Bitcoin holder behind the US, according to Bitbo.

Zhongnan University of Economics and Law professor Chen Shi told Reuters that these sales are a “makeshift solution that, strictly speaking, is not fully in line with China’s current ban on crypto trading.”

The issue has been exacerbated by a rise in crypto-related crime in China, ranging from online fraud to money laundering to illegal gambling. Additionally, the state sued more than 3,000 people involved in crypto-related money laundering in 2024.

China crypto reserve floated as solution

Shenzhen-based lawyer Guo Zhihao opined that the central bank is better positioned to deal with seized digital assets and should either sell them overseas or build a crypto reserve.

Ru Haiyang, co-CEO at Hong Kong crypto exchange HashKey, echoed the suggestion saying that China may want to keep forfeited Bitcoin as a strategic reserve as US President Donald Trump is doing.

Creating a crypto sovereign fund in Hong Kong, where crypto trading is legal, has also been proposed.

This issue has gained attention amid rising US-China trade tensions and Trump’s plans to regulate stablecoins and foster growth and innovation in the crypto industry.

Several industry observers have suggested that China’s tariff response could result in a devaluation of the local currency, which may result in a flight to crypto.

Magazine: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express

Politics

3iQ’s Canadian Solana ETF selects Figment as staking provider

Published

12 hours ago

April 15, 2025

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3iQ’s Canadian Solana ETF selects Figment as staking provider

Blockchain infrastructure provider Figment has been selected as the staking provider for 3iQ’s newly approved Solana exchange-traded fund (ETF), underscoring Canada’s continued efforts toward adoption of digital asset financial products.

Figment will enable institutional staking for the 3iQ Solana (SOL) Staking ETF, which launches on the Toronto Stock Exchange on April 16 under the ticker SOLQ, the companies said in a statement. In addition to 3iQ, Figment provides staking infrastructure solutions to more than 700 clients.

The Ontario Securities Commission (OSC), a provincial regulator, green-lighted 3iQ’s SOL fund on April 14. The approval was also extended to other fund managers seeking to offer SOL ETFs, including Purpose, Evolve and CI.

As Bloomberg ETF analyst Eric Balchunas reported at the time, the funds are permitted to stake a portion of their SOL holdings through TD Bank, Canada’s second-largest financial institution by assets.

3iQ estimates that its SOL fund will provide yields of between 6% and 8%, according to its website.

3iQ leads Canadian crypto ETFs as US regulators drag their feet

As US regulators continue to consider various crypto-related fund offerings, Canada has been leading the curve in adoption going back to 2021. That was the year that 3iQ debuted its spot Bitcoin (BTC) ETF, which crossed $1 billion in net assets almost immediately.

It would take nearly three more years before spot Bitcoin ETFs were approved in the United States. Like their Canadian counterparts, the US ETFs saw overwhelming success in their first year, generating more than $38 billion in net inflows.

In October 2023, 3iQ launched an ETF tied to Ether (ETH), giving investors direct access to the smart contract platform. Unlike the Ether ETFs that US regulators approved the following year, 3iQ’s fund offers staking rewards.

As Cointelegraph recently reported, US regulators may be on the cusp of approving staking rewards after they authorized exchanges to list options contracts tied to ETH.

Politics

Ethena Labs exits German market following agreement with BaFin

Published

16 hours ago

April 15, 2025

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Ethena Labs exits German market following agreement with BaFin

Synthetic stablecoin developer Ethena Labs is winding down its German operations less than a month after regulators identified “deficiencies” in its dollar-pegged USDe (USDE) stablecoin, signaling heightened scrutiny around crypto assets in Europe’s largest economy.

Ethena Labs reached an agreement with Germany’s Federal Financial Supervisory Authority, also known as BaFin, to cease all operations of its local subsidiary, Ethena GmbH, according to an April 15 announcement.

Germany, European Union, Stablecoin, MiCA — *Source:* *Ethena Labs*

As such, Ethena Labs “will no longer be pursuing MiCAR authorization in Germany,” the company said, referring to the Markets in Crypto-Assets Regulation.

The company reiterated that Ethena’s German subsidiary has not conducted any mint or redeem activity for USDe since March 21, the day BaFin halted the stablecoin’s activities. As Cointelegraph reported at the time, the German regulator identified compliance failures and potential securities law violations tied to USDe.

“All whitelisted mint and redeem users previously interacting with Ethena GmbH have at their request been onboarded with Ethena (BVI) Limited instead and have no ongoing relationship with Ethena GmbH whatsoever,” the company said.

Unlike popular stablecoins USDt (USDT) and USDC (USDC), Ethena’s USDe maintains its dollar peg through an automated delta-hedging strategy that includes a combination of spot holdings, onchain custody and liquidity buffers.

USDe is the fourth-largest stablecoin with a total circulating value of $4.9 billion, according to CoinMarketCap.

MiCA tightens the noose around stablecoin usage

MiCA is a comprehensive framework for cryptocurrency usage across the European Union, enforcing strict compliance standards and consumer protections.

To meet the new requirements, stablecoin issuers must have adequate reserves backing their tokens, ensure reserve assets are segregated from users’ assets and fulfill regular reporting obligations.

As of February, 10 stablecoin issuers have been approved under MiCA, including Circle, Crypto.com, Societe Generale and Membrane Finance.

Patrick Hansen, Circle’s senior director of EU strategy and policy, told Cointelegraph that a total of 10 euro-pegged stablecoins and five US dollar-pegged stablecoins have been approved so far.

However, notably absent from the list is USDt issuer Tether, which has decided not to pursue MiCA registration at this time.