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School buildings in England made with a certain type of concrete that is prone to collapse will be immediately closed over safety fears, the government has announced.

Around 104 schools or “settings” will be disrupted on top of 50 that have already been affected this year.

The Department for Education (DfE) said the “vast majority of schools and colleges will be unaffected by this change” – but Labour criticised the move as “staggering display of Tory incompetence”.

The type of concrete forcing the closures is Reinforced Autoclaved Aerated Concrete, known as RAAC.

It is the same type of concrete that has been found in some hospitals that have been deemed to be unsafe, prompting Health Secretary Steve Barclay to fast-track them into the government’s hospitals-building programme.

Education Secretary Gillian Keegan said: “Nothing is more important than making sure children and staff are safe in schools and colleges, which is why we are acting on new evidence about RAAC now, ahead of the start of term.

“We must take a cautious approach because that is the right thing to do for both pupils and staff.

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“The plan we have set out will minimise the impact on pupil learning and provide schools with the right funding and support they need to put mitigations in place to deal with RAAC.”

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Secretary of state must ‘get a grip on her department’

Labour’s shadow education secretary Bridget Phillipson said the government was “failing” children by needing to close schools just before the new term started.

“This is an absolutely staggering display of Tory incompetence as they start a fresh term by failing our children again,” she said.

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England’s crumbling schools

“Dozens of England’s schools are at risk of collapse with just days before children crowd their corridors. Ministers have been content to let this chaos continue for far too long.

“It’s long past time the secretary of state got a grip on her department.”

Paul Whiteman, general secretary of school leaders’ union NAHT, also said the “news is shocking, sadly it is not hugely surprising”.

“What we are seeing here are the very real consequences of a decade of swingeing cuts to spending on school buildings,” he said.

“The government is right to put the safety of pupils and staff first – if the safety of buildings cannot be guaranteed, there is no choice but to close them so urgent building work can take place.

What is Reinforced Autoclaved Aerated Concrete?

Reinforced Autoclaved Aerated Concrete – handily shortened to RAAC – is essentially a lightweight form of concrete.

It was used to build roofs, schools, colleges and other buildings from the 1950s until the mid-1990s, according to GOV.UK.

In comparison to traditional concrete, RAAC is weaker. It is made in factories using fine aggregate, chemicals to create gas bubbles and heat.

Both the material properties and structural behaviour differs significantly from traditional reinforced concrete.

In 2019, the Standing Committee on Structural Safety highlighted the significant risk of failure of RAAC planks.

Three years later in 2022, the Office of Government Property sent a safety briefing notice to all property leaders, saying that “RAAC is now life-expired and liable to collapse”.

Chris Goodier, professor of construction engineering and materials at Loughborough University said: “It is RAAC from the 1950s, 60s and 70s that is of main concern, especially if it has not been adequately maintained.

“RAAC examples have been found with bearings (supports) which aren’t big enough, and RAAC with the steel reinforcement in the wrong place, both of which can have structural implications.”

“But there is no escaping the fact that the timing of this couldn’t be worse, with children due to return from the summer holidays next week.”

The DfE said the majority of the school sites would remain open for face-to-face learning and only specific parts of buildings closed where RAAC is used.

It said a minority will need to either “fully or partially relocate to alternative accommodation” while mitigations are put in place.

Some hospitals deemed ‘unsafe’ because of RAAC

The department said the government has been aware of RAAC in public sector buildings since 1994 but the issue came to light in 2018, when a roof collapsed at a Kent school.

That year the DfE published guidance for schools stating the need to have “adequate contingencies” in the event of evacuations caused by concerns over the use of RAAC.

Read more:
Pupils face disruption at start of new school term due to probe into school buildings firm Caledonian Modular
Hundreds of crumbling schools to be renovated but critics say it won’t make up for ‘years of underfunding’

In June this year, the National Audit Office (NAO) said a school collapse in England that causes death or injury was “very likely” – but that the government did not have sufficient information to manage “critical” risks to the safety of pupils and staff.

Around 24,000 school buildings – more than a third of the total number in England – are beyond their estimated design lifespan – with school leaders branding the scale of building safety issues “shocking”.

Questions were also raised about the state of UK hospitals after Mr Barclay said that five new sites would be added to the government’s programme to build 40 new hospitals because the presence of RAAC made them unsafe to operate “beyond 2030”.

Five new sites – Airedale General in Keighley, Queen Elizabeth Hospital in King’s Lynn, Hinchingbrooke near Huntingdon, Leighton Hospital in Cheshire and Frimley Park in Surrey – were added to the programme as a priority.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

The US Securities and Exchange Commission and crypto exchange Gemini have asked to pause the regulator’s suit over the exchange’s Gemini Earn program, saying they want to discuss a potential resolution. 

In an April 1 letter to New York federal court judge Edgardo Ramos, lawyers representing the SEC and Genesis requested a 60-day hold on the case and that all deadlines be pulled “to allow the parties to explore a potential resolution.” 

“In this case, the parties submit that it is in each of their interests to stay this matter while they consider a potential resolution and agree that no party or non-party would be prejudiced by a stay,” the letter states.

The lawyers added that a stay was in the court’s interest as “a resolution would conserve judicial resources” and proposed that a joint status report be submitted within 60 days after the entry of the stay.

The SEC sued Gemini and crypto lending firm Genesis Global Capital in January 2023, alleging they offered unregistered securities through the Gemini Earn program.

In March 2024, Genesis agreed to pay $21 million to settle charges related to the lending program, but the enforcement case against Gemini remains outstanding.

SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

Letter from SEC and Genesis Global requesting extension of stay. Source: CourtListener

The letter did not specify what a possible resolution would entail, but the SEC has dropped several lawsuits it launched against crypto companies under the Biden administration, including against Coinbase, Ripple and Kraken.

Related: Will new US SEC rules bring crypto companies onshore?

In February, Gemini said the SEC closed a separate investigation into the firm as the regulator winds back its crypto enforcement under President Donald Trump. 

“The SEC cost us tens of millions of dollars in legal bills alone and hundreds of millions in lost productivity, creativity, and innovation. Of course, Gemini is not alone,” Gemini co-founder Cameron Winklevoss said at the time.

OpenSea, Crypto.com and Uniswap, among others, have also recently reported that the SEC had closed similar probes into their companies that were investigating alleged breaches of securities laws.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

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Crypto PAC-backed Republicans win US House seats in Florida special elections

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Crypto PAC-backed Republicans win US House seats in Florida special elections

Crypto PAC-backed Republicans win US House seats in Florida special elections

Two Republicans who received a combined $1.5 million from the crypto-backed political action committee (PAC) Fairshake will enter the US House after winning special elections in Florida.

Republican Jimmy Patronis won the vacant seat in Florida’s 1st Congressional District to replace Matt Gaetz, taking 57% of the vote to defeat Democrat Gay Valimont, according to AP News data.

Randy Fine also took Florida’s 6th Congressional District with 56.7% of the vote to beat his Democratic rival, public school teacher Josh Weil, and fill a seat left vacant by Mike Waltz, who took a job as White House national security adviser.

Florida’s 1st and 6th Congressional Districts — located in Florida’s western panhandle and along the state’s northeast coast — have been controlled by Republicans for roughly 30 years, but their lead has narrowed in recent years.

Fairshake, a PAC backed by crypto industry giants including Coinbase, Ripple and Andreessen Horowitz, gave Fine around $1.16 million in advertising spending and funneled $347,000 to Patronis to support his campaign.

Both Republicans have expressed support for the crypto industry, with Fine stating in a Jan. 14 X post that “Floridians want crypto innovation!”

Crypto PAC-backed Republicans win US House seats in Florida special elections

Source: Randy Fine

Fairshake and its affiliates poured around $170 million into the 2024 US presidential and congressional elections to back candidates who committed to supporting the crypto industry.

The wins by Patronis and Fine increased Republican representation in the House to 220 seats, with the Democrats holding 213 seats.

There are two vacant seats to be filled after Texas and Arizona Democrats Sylvester Turner and Raúl Grijalva died on March 5 and March 13, respectively.

Florida can expect to see a crypto-friendly regulatory environment 

The victories for Patronis and Fine likely mean that crypto legislation will continue to see support in the US capital.

The Republican Party would have maintained its House majority even if it lost both seats in Florida, but it would have made it more difficult for some of the recently introduced Republican-backed crypto bills to pass through the House and Senate.

Related: Florida bill proposes strict rules against online gambling

At the Digital Assets Summit on March 18, Democratic Congressman Ro Khanna said he believes Congress “should be able to get” both a stablecoin and crypto market structure bill done this year.

Bills that could eventually make their way to the House include the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which passed the Senate Banking Committee in an 18-6 vote on March 13.

Senator Cynthia Lummis also reintroduced a Bitcoin reserve bill about a week after the Trump administration announced the establishment of a Strategic Bitcoin Reserve on March 6, with the legislation referred to the Senate Banking Committee on March 11.

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

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UK trade bodies ask government to make crypto a ‘strategic priority’

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UK trade bodies ask government to make crypto a ‘strategic priority’

UK trade bodies ask government to make crypto a ‘strategic priority’

Several British trade associations have asked Prime Minister Keir Starmer’s office to appoint a special envoy dedicated to crypto and for a dedicated action plan for digital assets and blockchain technology.

In a March 31 letter, the coalition of six UK digital economy trade bodies urged Starmer’s special adviser on business and investment, Varun Chandra, for a “greater strategic focus and alignment to deliver investment, growth and jobs” for the crypto industry. 

The group, which consisted of the UK Cryptoasset Business Council, Global Digital Finance, The Payments Association, Digital Currencies Governance Group, the Crypto Council for Innovation and techUK, noted the US policy shift on crypto under President Donald Trump and his appointment of a crypto czar.

Britain’s commitment to an economic trade deal focused on technological cooperation with the US “presents a significant opportunity to mirror the United States’ ambition in fostering leadership in blockchain, digital assets, and other emerging financial technologies,” the letter stated. 

The group recommended that the UK appoint a blockchain special envoy, similar to the US, to coordinate policy, foster innovation, and position the country competitively in global markets.

The trade bodies also called for the development of a dedicated government action plan for crypto and blockchain technology, including a concierge service to attract high-potential firms.

They added that the government should acknowledge and leverage the commonalities between blockchain, quantum computing and artificial intelligence technologies, including potential applications for government services.

Another recommendation was to create a high-level industry-government-regulator engagement forum to ensure informed decision-making and cross-sector collaboration.

UK trade bodies ask government to make crypto a ‘strategic priority’

The UK crypto and tech associations lobbying the government for a policy shift. Source: LinkedIn

“With deep pools of talent, access to capital, world-class academic institutions, and sophisticated regulators, the UK provides an environment where digital assets and blockchain innovation can thrive,” they stated. 

Related: UK should tax crypto buyers to boost stock investing, economy, says banker

The coalition argues that crypto and blockchain technology could boost the UK economy by 57 billion British pounds ($73.6 billion) over the next decade, with the sector potentially increasing global gross domestic product by 1.39 trillion pounds ($1.8 trillion) by 2030.

Tom Griffiths, the co-founder and managing partner of crypto compliance advisory firm BitCompli, said in response to the letter on LinkedIn that the Financial Conduct Authority “has a lot of talent and a good sight of future plans, but the UK is definitely losing pace with Dubai, Singapore, and other EU jurisdictions.”

“Now is the time for the FCA to act, or the UK will lose out on this huge opportunity, which is digital assets and all the benefits this sector can bring, not only now but over the next 20 years,” he added.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

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