A local council in Nadine Dorries’s constituency is demanding she resigns as an MP “immediately”, saying “residents desperately need effective representation now”.
The former culture secretary announced on 9 June that she was standing down as an MP “with immediate effect”, just ahead of her close ally Boris Johnson’s own exit from parliament.
But she still hasn’t formally resigned and remains the representative for Mid-Bedfordshire.
In a terse letter to Ms Dorries, Flitwick Town Council said the issue had been raised at a recent meeting, and councillors wanted her to “immediately vacate” her seat to allow a by-election.
“Rather than representing constituents, the council is concerned that your focus appears to have been firmly on your television show, upcoming book and political manoeuvres to embarrass the government for not appointing you to the House of Lords,” wrote the council’s town clerk, Stephanie Stanley.
“With an estimated population of 13,800 people, Flitwick represents the largest concentration of voters in the Mid-Bedfordshire constituency.
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“Our residents desperately need effective representation now, and Flitwick Town Council calls on you to immediately vacate your seat to allow a by-election.”
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Nadine Dorries spoke to Sky News after her resignation.
The town mayor, Councillor Andy Snape, said demands had been growing across the community for Ms Dorries to “do the right thing rather than continue to hold the people of Mid-Bedfordshire to ransom while she plays political games for personal gain”.
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He claimed the MP had not held a surgery in the town since March 2020 and had not maintained a constituency office “for a considerable time”.
Councillor Snape also said her “absence and lack of interest/contribution” had held back local projects, as he hit out at her living in the Cotswolds rather than in her constituency.
In a statement on social media, he added: “It’s the job of our MP to represent the views of Mid-Bedfordshire constituents in parliament and hold the government accountable, pushing for positive changes to policy and legislation.
“In my personal opinion, Dorries hasn’t done this.
“Her focus appears to be firmly on her TalkTV show, her new Daily Mail column, and, more recently, her upcoming tell-all book and exerting as much pressure as possible to embarrass the government into giving her a peerage.
“Regardless of your political viewpoint, Mid-Bedfordshire residents desperately need representation at Westminster. It’s time for Dorries to put Mid-Bedfordshire first and let someone else have a go.”
Image: Nadine Dorries is a close ally of former prime minister Boris Johnson.
Ms Dorries announced her resignation last month, just hours before Mr Johnson quit in protest to the Privileges Committee findings – ruling he deliberately mislead parliament over lockdown breaking parties in Downing Street.
At the time, she said a “new life is opening up” in front of her, so it was the right time to step down.
However, rumours swelled that she had been in line for a peerage and was cut from Mr Johnson’s resignation honours list at the last minute to ensure it got the sign off from the current incumbent in Number 10.
In the following days, Ms Dorries said she would not formally resign until after she got answers from Downing Street about why she did not get her peerage.
“It is absolutely my intention to resign,” she tweeted. “But given what I know to be true and the number of varying and conflicting statements issued by Number 10 since the weekend, this process is now sadly necessary.”
The delay to her exit has drawn criticism from all over the House, with the Tory chair of the public administration and constitutional affairs committee referring to her as the “lingering member for Mid-Bedfordshire”.
We have contacted Ms Dorries for a response to the town council’s letter.
The Mid Bedfordshire Conservative Association had no comment on the row, telling Sky News: “This letter was addressed to Nadine, and therefore a matter for her.”
A New York jury was unable to reach a verdict in the case of Anton and James Peraire-Bueno, the MIT-educated brothers accused of fraud and money laundering related to a 2023 exploit of the Ethereum blockchain that resulted in the removal of $25 million in digital assets.
In a Friday ruling, US District Judge Jessica Clarke declared a mistrial in the case after jurors failed to agree on whether to convict or acquit the brothers, Inner City Press reported.
The decision came after a three-week trial in Manhattan federal court, resulting in differing theories from prosecutors and the defense regarding the Peraire-Buenos’ alleged actions involving maximal extractable value (MEV) bots.
A MEV attack occurs when traders or validators exploit transaction ordering on a blockchain for profit. Using automated MEV bots, they front-run or sandwich other trades by paying higher fees for priority.
In the brothers’ case, they allegedly used MEV bots to “trick” users into trades. The exploit, though planned by the two for months, reportedly took just 12 seconds to net the pair $25 million.
In closing arguments to the jury this week, prosecutors argued that the brothers “tricked” and “defrauded” users by engaging in a “bait and switch” scheme, allowing them to extract about $25 million in crypto. They cited evidence suggesting that the two plotted their moves for months and researched potential consequences of their actions.
“Ladies and gentlemen, bait and switch is not a trading strategy,” said prosecutors on Tuesday, according to Inner City Press. “It is fraud. It is cheating. It is rigging the system. They pretended to be a legitimate MEV-Boost validator.”
In contrast, defense lawyers for the Peraire-Buenos pushed back against the US government’s theory of the two pretending to be “honest validators” to extract the funds, though the court ultimately allowed the argument to be presented to the jury.
“This is like stealing a base in baseball,” said the defense team on Tuesday. “If there’s no fraud, there’s no conspiracy, there’s no money laundering.”
What’s at stake for the crypto industry following the verdict?
Though the case ended without a verdict, the mistrial has left the crypto industry divided, with many observers debating the legal and technical implications of treating MEV-related activity as a potential criminal offense. Crypto advocacy organization Coin Center filed an amicus brief on Monday after opposition from prosecutors.
“I don’t think what’s in the indictment constitutes wire fraud,” said Carl Volz, a partner at law firm Gunnercooke, in a Monday op-ed for DLNews. “A jury could conclude differently, but if it does, it’ll be because the brothers googled stupidly and talked too much, for too long, with the wrong people.”
The shutdown of the US government entered its 38th day on Friday, with the Senate set to vote on a funding bill that could temporarily restore operations.
According to the US Senate’s calendar of business on Friday, the chamber will consider a House of Representatives continuing resolution to fund the government. It’s unclear whether the bill will cross the 60-vote threshold needed to pass in the Senate after numerous failed attempts in the previous weeks.
Amid the shutdown, Republican and Democratic lawmakers have reportedly continued discussions on the digital asset market structure bill. The legislation, passed as the CLARITY Act in the House in July and referred to as the Responsible Financial Innovation Act in the Senate, is expected to provide a comprehensive regulatory framework for cryptocurrencies in the US.
Although members of Congress have continued to receive paychecks during the shutdown — unlike many agencies, where staff have been furloughed and others are working without pay — any legislation, including that related to crypto, seems to have taken a backseat to addressing the shutdown.
At the time of publication, it was unclear how much support Republicans may have gained from Democrats, who have held the line in demanding the extension of healthcare subsidies and reversing cuts from a July funding bill.
Is the Republicans’ timeline for the crypto bill still attainable?
Wyoming Senator Cynthia Lummis, one of the market structure bill’s most prominent advocates in Congress, said in August that Republicans planned to have the legislation through the Senate Banking Committee by the end of September, the Senate Agriculture Committee in October and signed into law by 2026.
Though reports suggested lawmakers on each committee were discussing terms for the bill, the timeline seemed less likely amid a government shutdown and the holidays approaching.
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.
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.
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.