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Sadiq Khan’s deputy and a scientist the mayor’s office helps to fund have been accused of working together in an attempt to criticise research that questioned the effectiveness of London’s Ultra Low Emission Zone (ULEZ).

Emails obtained by the Conservative Party under the Freedom of Information Act showed Professor Frank Kelly of Imperial College London and deputy mayor for the environment, Shirley Rodrigues, apparently working together to “fight back” against research published and publicised by the same university.

The ULEZ and its expansions are becoming key political dividing lines between the Conservatives and Labour, and were part of the reason the Tories held on to Boris Johnson’s former seat in west London in a by-election earlier this year.

Prof Kelly is an expert on public health policy and air quality.

He is also the director of the Environmental Research Group (ERG), a body which provides air quality information and research in the UK, which has received hundreds of thousands of pounds from the mayor’s office, among other sources.

According to the Greater London Authority, £757,000 over four years was the “vast majority” of the money provided – and was used for the Breathe London project, which involves installing air quality monitors across the capital.

The Conservatives have accused Prof Kelly and Mr Khan‘s office of having “an alarmingly cosy relationship”.

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Sadiq Khan says ULEZ 'landmark decision is good news for London'.
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Sadiq Khan says the ULEZ expansion is good for London

Their main accusation stems from the response by Prof Kelly and Ms Rodrigues to a study published by Imperial in 2021, which examined the impact of the ULEZ over a period of 12 weeks.

Emails show the mayor’s office – including Ms Rodrigues – contacted Prof Kelly in the wake of this study being published and reported on to “challenge some of the misunderstandings” in it.

The mayor’s office apparently took issue with the limited period of time over which the study was conducted.

Prof Kelly told the Labour mayor’s team his university “is not keen for us to put a direct contradiction” out in the media – but he was happy to “fight back”, according to the emails.

The mayor’s office also offered to put Prof Kelly in touch with senior Labour figure David Lammy for a “friendly” interview on the London MP’s radio show.

Deputy mayor Shirley Rodrigues in 2019
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Deputy mayor Shirley Rodrigues in 2019

‘Khan conspired to silence research’

Peter Fortune, a Conservative member of the Greater London Assembly, said: “Science relies on open, transparent debate.

“It is unacceptable that Sadiq Khan and his deputy conspired to silence legitimate research because it would damage the mayor’s reputation and credibility.

“Sadiq Khan has claimed he is just following the science, yet he has been using scientific advisors to protect his own interests.

“The mayor’s own independent impact assessment shows the ULEZ expansion will have a negligible effect on air quality, while hitting the poorest Londoners hardest.

“That is why we need to tackle air pollution where it is, instead of taxing where it isn’t.”

Read more:
Where the expanded ULEZ will cover

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ULEZ expansion legal, High Court rules

People take part in a protest against the proposed ultra-low emission zone (Ulez) expansion in Orpington, London. Mayor of London Sadiq Khan will extend the Ulez area to cover the whole of the capital from August 29. This means many more drivers of vehicles that do not meet minimum emissions standards will be liable for a daily ..12.50 fee. Picture date: Saturday August 19, 2023. PA Photo. See PA story PROTEST Ulez. Photo credit should read: Victoria Jones/PA Wire
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People take part in a protest against the proposed ULEZ expansion

‘Normal and proper’ to work with experts

A spokesperson for the mayor said: “It is right – and standard practice across government – that we commission experts to carry out research to inform the work we do.

“Frank Kelly and the Environmental Research Group at Imperial are some of the world-leading academic institutions looking at air quality.

“It is normal and proper to work with these experts to ensure our policies are as effective as possible at dealing with issues such as the high number of deaths – up to 4,000 a year – linked to toxic air in London every year.”

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The statement added: “The ULEZ analysis from the engineering department at Imperial only paints a partial picture, not accounting for the full lifetime impact of the scheme, and only focusing on its immediate impact around its launch.

“It is commonplace for academic experts to disagree with how other academic studies are interpreted, as was the case here.”

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Crypto stocks down, IPOs punted amid tariff tumult

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Crypto stocks down, IPOs punted amid tariff tumult

Crypto stocks down, IPOs punted amid tariff tumult

Cryptocurrency firms felt the heat from US President Donald Trump’s sweeping tariff rollout this week as market turbulence sent share prices tumbling and foiled initial public offering (IPO) plans. 

From exchanges to Bitcoin (BTC) miners, crypto stocks suffered as much, if not more, than shares of other companies — despite the industry’s warm relationship with the US president. 

On April 2, Trump announced he was placing tariffs of at least 10% on practically all imports into the United States and adding additional “reciprocal” tariffs on some 57 countries. 

Since then, major US stock indices — including the S&P 500 and Nasdaq — tumbled by roughly 10% as traders braced for a looming trade war. 

Crypto stocks down, IPOs punted amid tariff tumult

Bitcoin miners sold off on Trump’s tariff news. Source: Morningstar

Related: Bitcoin ‘decouples,’ stocks lose $3.5T amid Trump tariff war and Fed warning of ‘higher inflation’

Sharp selloffs

Crypto exchange Coinbase — a prominent ally of Trump during the November US elections — experienced a similarly severe sell-off, with its stock price dropping by roughly 12% during the same period, according to data from Google Finance.

Bitcoin miners are also taking a hit. The CoinShares Crypto Miners ETF (WGMI) — which tracks a diverse basket of Bitcoin mining stocks — has lost roughly 13% of its value since immediately prior to Trump’s April 2 announcement, according to data from Morningstar. 

Even Strategy, one of the best-performing stocks of 2024, wasn’t immune. Its share price has fallen by around 6% on the news, Google Finance data showed.

According to Reuters, investment bank JPMorgan has raised its estimated odds of a global economic recession in 2025 to 60% from 40% previously. 

“Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,” JP Morgan reportedly said.

“The effect … is likely to be magnified through (tariff) retaliation, a slide in U.S. business sentiment and supply-chain disruptions.”

Crypto stocks down, IPOs punted amid tariff tumult

Strategy’s shares also dropped this week. Source: Google Finance

IPO delays

The impact of US tariffs hasn’t been limited to stock price volatility. Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO, citing market turbulence. 

According to The Wall Street Journal, Circle is “waiting anxiously” before taking further steps after filing to take the company public on April 1. 

It is among several companies — including fintech Klarna and ticketing service StubHub — reportedly considering altering or shelving IPO plans. 

One exception may be Bitcoin itself, which some analysts say is finally “decoupling” from the broader market.

Bitcoin’s spot price has held above $82,000 this week, even as US equities markets collapsed.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

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Brazilian court authorizes crypto seizure for debt collection — Report

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Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian judges have been authorized to seize cryptocurrency assets from debtors who owe money and are behind on their payments, signaling a growing recognition that digital assets can be both a form of payment and a store of value.

According to local media reports, the Third Panel of Brazil’s Superior Court of Justice unanimously authorized judges to send letters to cryptocurrency brokers informing them about their intent to seize an account holder’s assets to repay creditors.

The report was confirmed by the Superior Court of Justice, which issued a notice on its website.

The decision was reached unanimously by the Third Panel, which reviewed a case brought forward by a creditor.

“Although they are not legal tender, crypto assets can be used as a form of payment and as a store of value,” a translated version of the Superior Court of Justice’s memo read.

Brazilian court authorizes crypto seizure for debt collection — Report

Source: STJnoticias

Under existing rules, Brazilian judges are allowed to freeze bank accounts and order fund withdrawals, even without a debtor’s knowledge, should they rule that a creditor is owed money.

Following the recent decision, crypto assets now fall under the same purview. 

Minister Ricardo Villas Bôas Cueva, who voted in the five-person panel, said cryptocurrencies still lack formal regulation in Brazil but noted certain bills have recognized the asset class as “a digital representation of value.” 

Related: Brazil’s data watchdog upholds ban on World crypto payments

Despite regulatory uncertainty, Brazil is a major hub for crypto

Although Brazil still lacks an overarching framework for digital assets, with the country’s central bank divvying up the regulatory processes into phases, crypto adoption is surging across the country.

Brazil ranks second among all Latin American countries in terms of “crypto value received,” which is a key benchmark for adoption, according to an October report by Chainalysis. 

Brazilian court authorizes crypto seizure for debt collection — Report

In Latin America, only Argentina has higher crypto penetration in terms of value received as of June 2024. Source: Chainalysis

Earlier this year, crypto exchange Binance was granted approval to operate in the country after it acquired a São Paulo-based investment company. 

A Binance executive told Cointelegraph at the time that Brazil was making “significant strides” in regulating the industry and expects a comprehensive framework to be finalized “by mid-year.”

Nevertheless, not all of Brazil’s regulatory proposals have been favorable for the industry.

In December, the country’s central bank proposed banning stablecoin transactions on self-custodial wallets at a time when more locals were using dollar-pegged tokens to hedge against the devaluation of the Brazilian real.

Industry observers told Cointelegraph at the time that such a ban would be difficult to enforce.

“Governments can regulate centralized exchanges, but P2P transactions and decentralized platforms are much harder to control, which means the ban would likely only affect part of the ecosystem,” said Lucien Bourdon, an analyst with Trezor. 

Related: Brazilian lawmaker introduces bill to regulate Bitcoin salaries

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‘Will the PM side with parents or tech bros?’: Labour peer demands action on children’s smartphone safety

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'Will the PM side with parents or tech bros?': Labour peer demands action on children's smartphone safety

Sir Keir Starmer needs to choose between parents who want stronger action to tackle harmful content on children’s phones, or the “tech bros” who are resisting changes to their platforms, Baroness Harriet Harman has said.

Speaking to Beth Rigby on Sky News’ Electoral Dysfunction podcast, the Labour peer noted that the prime minister met with the creators of hit Netflix drama Adolescence to discuss safety on social media, but she questioned if he is going to take action to “stop the tech companies allowing this sort of stuff” on their platforms where children can access it.

Sir Keir hosted a roundtable on Monday with Adolescence co-writer Jack Thorne and producer Jo Johnson to discuss issues raised in the series, which centres on a 13-year-old boy arrested for the murder of a young girl, and the rise of incel culture.

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The aim was to discuss how to prevent young boys being dragged into a “whirlpool of hatred and misogyny”, and the prime minister said the four-part series raises questions about how to keep young people safe from technology.

Sir Keir has backed calls for the four-part drama to be shown in all schools across the country, but Baroness Harman questioned what is going to be achieved by having young people simply watch the show.

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Sir Keir Starmer held a roundtable with the creators of the Adolescence TV drama.

“Two questions were raised [for me],” she said. ” Firstly – after they’ve watched it, what is going to be the discussion afterwards?

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“And secondly, is he going to act to stop the tech companies allowing this sort of stuff to go online into smartphones without protection of children?

“Because if the tech companies wanted to do this, they could actually protect children. They can do everything they want with their tech.”

She acknowledged there are “very big public policy challenges” in this area, but added of the prime minister: “Is he going to side with parents who are terrified and want this content off their children’s phones, or is he going to accept the tech bros’ resistance to having to make changes?”

Harriet Harman said the government should impose time limits on inquiries
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Baroness Harriet Harman

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Can parliament keep up?

The Labour peer backed the Conservative Party’s call for a ban on smartphones in schools to be mandated from Westminster, saying it would “enable all schools not to have a discussion with their parents or to battle it out, but just to say, this is the ruling” from central government, which Ofsted would then enforce.

“I’m sensitive to the idea that we shouldn’t constantly be telling schools what to do,” she continued. “And they’ve got a lot of common sense and a lot of professional experience, and they should have as much autonomy as possible.

“But perhaps it’s easier for them if it’s done top down.”

Baroness Harman also questioned the speed with which parliament is actually able to legislate to deal with the very rapid development of new technologies, and posits that it could “change its processes to be able to legislate in real time”.

She suggested that a “powerful select committee” of MPs could be established to do that, because “otherwise we talk about it, and then we’re not able to legislate for 10 years – by which time that problem has really set in, and we’ve got a whole load more problems”.

On the podcast, the trio also discussed the 10% tariffs imposed on the UK by Donald Trump and the government’s efforts to strike a trade deal with the US to mitigate the impact of the levy.

The government has refused to rule out scrapping the Digital Services Tax, a 2% levy on tech giants’ revenues in the UK, as part of the negotiations with the Trump administration – a move Baroness Harman said would be “very heartbreaking”.

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