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Sir Keir Starmer has said questions about his role as the director of public prosecutions (DPP) during the wrongful conviction of Andrew Malkinson should be “directed elsewhere”.

The Labour leader said Mr Malkinson – who spent 17 years in prison for a rape he did not commit before having his conviction overturned – had been through a “real ordeal” and that there should be an inquiry to “get to the bottom of that”.

There have been questions regarding Sir Keir’s role as DPP and head of the Crown Prosecution Service (CPS) after it emerged that DNA evidence which exonerated Mr Malkinson came to light in 2007 and was known to all the key agencies, including the CPS, in 2009.

Sir Keir was DPP from 2008 to 2013.

While Labour has said the case never crossed his desk and that Sir Keir had no personal involvement in it, his role as the head of the CPS has come under scrutiny in light of previous statements he has made.

The Labour leader told Sky News in April that he took “full responsibility for every decision of the Crown Prosecution Service when I was director of public prosecutions”.

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More on Andrew Malkinson

Asked whether that meant he accepted a role “in the miscarriage of justice” regarding Mr Malkinson, Sir Keir replied: “I’ve seen the statement the Crown Prosecution Service have put out, and so far as I can see, they discharged their obligations by making sure the material in question was given to Mr Malkinson’s lawyers.

“That’s what they should have done. That’s what I understand they did – so I think the questions in this case are actually directed elsewhere.”

Mr Malkinson, 57, was found guilty of raping a woman in Greater Manchester in 2003 and the next year was jailed for life with a minimum term of seven years.

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Innocent man locked away for 17 years

He remained in jail for another decade because he maintained his innocence.

Last month he had his conviction quashed by the Court of Appeal after DNA evidence that linked another man to the crime was produced by his defence team.

Case files obtained by Mr Malkinson as he battled to be freed – and seen by Sky News – show officers and prosecutors knew forensic testing in 2007 had identified a searchable male DNA profile on the rape victim’s clothing that did not match his.

Notes of a meeting between the Forensic Science Service, the CPS and Greater Manchester Police (GMP) in December 2009 – a year into Sir Keir’s tenure – suggest the CPS understood the possible importance of the 2007 DNA find.

CPS guidance states it must write to the body responsible for investigating possible miscarriages of justice, the Criminal Cases Review Commission (CCRC), “at the earliest opportunity about any case in which there is doubt about the safety of the conviction”.

But the case files show both the police and the CPS chose to take no further action and there is no record the CPS directly informed the CCRC.

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The CPS claims Mr Malkinson’s lawyers were informed directly of the new DNA evidence.

The CCRC refused to order further forensic testing or refer the case for appeal in 2012, with the case files citing fears about costs.

Mr Malkinson’s case was described as “astonishing” by former solicitor general Lord Edward Garnier KC, who said there should be an inquiry into the “total public mess” that has unfolded following his exoneration.

Former justice secretary Robert Buckland also told Sky News that “some comment from Sir Keir would be welcome”.

“I would have thought it would be good for Sir Keir as a former senior lawyer to say something about it and to say he will co-operate with any public inquiry,” he said.

A CPS spokesperson said: “It is clear Mr Malkinson was wrongly convicted of this crime and we share the deep regret that this happened.

“Evidence of a new DNA profile found on the victim’s clothing in 2007 was not ignored. It was disclosed to the defence team representing Mr Malkinson for their consideration.

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“In addition, searches of the DNA databases were conducted to identify any other possible suspects. At that time there were no matches and therefore no further investigation could be carried out.”

In light of the revelations, the CCRC has said it will review Mr Malkinson’s case.

A spokesman said the commission would be as “open as we can be within our statutory constraints” about “lessons to be learned”.

“We recognise that Mr Malkinson has had a very long journey to clear his name and it is plainly wrong that he spent 17 years in prison for a crime he did not commit.

“We have already been in touch with Greater Manchester Police and with the Crown Prosecution Service to offer our assistance in any of their inquiries.”

The attorney general and the Home Office both declined to comment.

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

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

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.”

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

Countries and governments that hold BTC. Source: Bitbo

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. 

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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

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

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

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’s Canadian Solana ETF selects Figment as staking provider

Source: Eric Balchunas

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

Related: Solana, XRP ETFs may attract billions in new investment — JPMorgan

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.

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

Source: James Seyffart

Related: SEC delays staking decision for Grayscale ETH ETFs

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Ethena Labs exits German market following agreement with BaFin

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Ethena Labs exits German market following agreement with BaFin

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.

Germany, European Union, Stablecoin, MiCA

The $233-billion stablecoin market is dominated by USDT and USDC. Source: CoinMarketCap

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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.

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