A cabinet minister has refused to commit to the UK staying as a signatory to the United Nations refugee convention following a controversial speech in the US by Suella Braverman on migration.
The home secretary has faced severe criticism over her comments in Washington DC on Tuesday, where she said being gay or a woman should not be enough to gain asylum.
Politics live: Braverman under fire for asylum speech
Appearing on Sky News, Culture Secretary Lucy Frazer defended the remarks, saying “fearing discrimination is different” from someone’s life being at risk.
She failed to commit to the convention repeatedly, telling Sky News’ Kay Burley: “It is up to all countries to look at where the conventions that were signed a number of years ago are [and] as they are interpreted today whether they are still doing the job they are enacted to do.”
But she did say: “I think that those conventions are really important.”
The Refugee Convention was established in 1951 following the horrors of the Second World War, and was designed to protect those who face serious threats to their life or freedom.
It sets out an internationally recognised definition of a refugee and outlines the legal protections they are entitled to, along with their rights and any assistance that should be given.
The UK has been a long-standing signatory to the convention.
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The home secretary says being gay or a woman isn’t reason enough to claim asylum
However, Ms Braverman has now questioned whether courts have redefined asylum to be granted for people suffering “discrimination” instead of “persecution” – especially in the context of someone who is gay or a woman.
“Where individuals are being persecuted, it is right that we offer sanctuary,” she said.
“But we will not be able to sustain an asylum system if, in effect, simply being gay, or a woman, and fearful of discrimination in your country of origin, is sufficient to qualify for protection.”
Her remarks have been condemned by the United Nations’ refugee agency – the UNHCR – which oversees the convention, saying the agreement “remains as relevant today as when it was adopted in providing an indispensable framework for addressing those challenges, based on international co-operation”.
The home secretary was also criticised by musician and campaigner Sir Elton John, who said she risked “further legitimising hate and violence” against LGBT+ people.
And Labour peer Lord Dubs – who came to the UK on the kindertransport as a child in 1939 – accused of of “trying to blame other people for her own failures and the failures of her government.
He told Sky News: “This is not the way to behave. I think she is covering up for the complete incompetence of the Home Office in the way they are handling refugees, and I don’t think ministers should go abroad and attack this country.
“[The government] wants to hype up the argument on refugees as part of an election winning strategy. I think that is really shabby.”
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LGBT asylum seeker: How do I prove I’m gay?
Asked by Kay Burley if the government was committed to the convention, Culture Secretary Ms Frazer said: “What [Ms Braverman] was saying was… uncontrolled illegal immigration is an international problem, it is a global problem that needs global solutions, and you will know as a government we are absolutely committed to that.
“International agreements are really important, they are part of the bedrock of our international cooperation, but what the home secretary was talking about was the fact that when that UN convention of 1951 was formed it was all about persecution, and immigration was nowhere near the levels it is today.
“And what she was talking about was that case law has interpreted the 1951 convention through a much looser definition and now what we are getting is economic migrants coming here as well as those who are suffering persecution.
“And what she was saying is that is something we should be thinking about internationally and I do think that we need international solutions to these issues.”
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She continually refused to commit to staying in the convention.
Asked if a gay person fearing for their life should be able to seek asylum in the UK, she replied: “So if someone is fearing… if someone is at a threat of losing their life and is at risk of persecution and being killed, then of course they should be seeking refuge.
“If they are fearing discrimination… that is different.”
Ms Frazer added: “I think this is very clear that if someone is being persecuted, in terms of they’re going to lose their life, then that is what the convention was there for.
“[Ms Braverman] was distinguishing between discrimination and fear of discrimination and fearing for your life in terms of persecution.”
Asked for a response after the interview, a Number 10 spokesperson said: “We are committed to all our international conventions.”
The evolving relationship between Bitcoin and traditional financial markets is under renewed pressure as global investors flee risk assets amid intensifying US trade tensions.
US-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded their fourth consecutive day of outflows on April 8, with more than $326 million in net redemptions across products, according to data from Farside Investors.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw the largest sell-off of over $252 million, its biggest daily outflow since Feb. 26.
Bitcoin ETF flows, US dollars, millions. Source: Farside Investors
The selling pressure follows US President Donald Trump’s April 2 announcement of sweeping reciprocal import tariffs, which triggered a historic $5 trillion wipeout in the S&P 500 over two days.
Related: Bitcoin may rival gold as inflation hedge over next decade — Adam Back
The delayed crypto market turbulence after the tariff-related sell-off in traditional markets highlights Bitcoin’s “evolving relationship with traditional markets,” according to Lennix Lai, global chief commercial officer at OKX exchange.
Lai told Cointelegraph:
“While falling 26% since January’s inauguration, Bitcoin’s relative resilience in the first two days following the tariff announcement — dropping 6% compared to Nasdaq’s 11% decline — suggests a nuanced dynamic emerging between crypto and conventional assets.”
Bitcoin initially remained firmly above the $82,000 support level but plummeted below $75,000 on Sunday, April 6.
BTC/USD, 1-year chart. Source: Cointelegraph Markets Pro
Some industry leaders attributed Sunday’s sell-off to Bitcoin’s 24/7 liquidity mechanics, which made BTC the only large liquid asset available for de-risking over the weekend.
Related: Bitcoin price can hit $250K in 2025 if Fed shifts to QE: Arthur Hayes
Bitcoin remains tied to global liquidity conditions
While there is an “encouraging sign” of a weakening correlation between Bitcoin and equities, Bitcoin’s price trajectory remains tied to global liquidity conditions, Lai said, adding:
“Though I see early signs of divergence, I believe Bitcoin remains fundamentally tied to global liquidity conditions, warranting caution amid potential market stresses — whilst gold remains as a hedge against geopolitical instability.”
“What’s most significant here isn’t just price action but Bitcoin’s growing conceptual influence — people increasingly view it as a valid strategic reserve asset for diversification in chaotic traditional markets,” Lai added.
Other analysts also see the growing money supply as Bitcoin’s main catalyst.
“Bitcoin trades solely based on the market expectation for the future supply of fiat,” according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.
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The European Securities and Markets Authority (ESMA) has warned that crypto will increasingly threaten traditional financial markets’ stability as the industry grows and becomes more entwined with traditional finance players.
“We cannot rule out that future sharp drops in crypto prices could have knock-on effects on our financial system,” ESMA’s executive director Natasha Cazenave said in an April 8 statement to the Economic and Monetary Affairs Committee.
Cazenave noted, however, that crypto currently only accounts for 1% of global financial assets and is not yet significant enough to cause major “spillover effects” into traditional financial markets.
She warned that interconnections between crypto and traditional markets are rapidly growing — particularly in the more crypto-friendly US — and called for closer monitoring.
“Crypto-assets markets evolve quickly, in an often unpredictable manner, and we need to keep a close eye on these developments,” Cazenave said, adding:
“Turmoil, even in small markets, can originate or catalyze broader stability issues in our financial system.”
Cazenave’s concerns ranged from spot crypto exchange-traded funds and stablecoin use to hacks, scams and scandals — highlighting the recent $1.4 billion Bybit exploit and FTX’s collapse in November 2022.
Today in the ECON Committee, the role of crypto assets in relation to financial market stability was discussed. The European Central Bank (ECB) and the European Securities and Markets Authority (ESMA) were present.
I raised a critical question about the digital euro.… pic.twitter.com/KST7FRBhFF
— Engin Eroglu (@EnginEroglu_FW) April 8, 2025
The European Union has already implemented several measures to safeguard against crypto risks, most notably the Markets in Crypto-Assets (MiCA) regulation that was rolled out last year.
While Cazenave said MiCA marked a “breakthrough” for crypto regulation, she added that there is “no such thing as a safe crypto-asset” and that more rules may need to be implemented to mitigate future risks.
Related: EU could fine Elon Musk’s X $1B over illicit content, disinformation
Her comments come as both crypto and the stock markets have experienced double-digit falls over the last few weeks as the Trump administration continues to follow through on its tariff plans.
Europe lags US in crypto adoption
While crypto adoption has accelerated in the US, Cazenave noted that over 95% of European banks remain on the sidelines, with no involvement in crypto-related activities.
However, retail participation is on the rise, with an estimated 10% to 20% of European investors having crypto exposure, which is in line with growing global interest, Cazenave said.
Most reports measuring US crypto adoption suggest that the range of adoption is between 15% and 28% of the population.
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Former NBA star Shaquille O’Neal has been granted final court approval to settle a class-action lawsuit for $11 million with Astrals non-fungible token (NFT) buyers.
Florida federal court judge Federico Moreno granted approval of the settlement between O’Neal and the class group led by Daniel Harper in an April 1 order made available on April 8.
The deal created a fund of up to $11 million for eligible class members and awarded $2.9 million in attorney fees and costs. All those who purchased Astrals NFTs from May 2022 to Jan. 15 and those who purchased the project’s native GLXY tokens up until mid-January are eligible.
“The fee sought by lead class counsel has been reviewed and approved as fair and reasonable by plaintiffs,” Moreno’s order read.
O’Neal was hit with the lawsuit in May 2023 over his founding and promotion of the Solana-based Astrals NFT project, which the suit claimed was an “offer and sale of unregistered securities.”
The class group said they bought Astrals NFTs and “suffered investment losses” due to O’Neal’s “conduct” in promoting the project.
In August, Judge Moreno recognized that the class suit had alleged that the former NBA player was a seller of the NFTs. O’Neal agreed to the settlement in November.
Screenshot from court order on final settlement. Source: Courtlistener
NFT sales slump
The Astrals NFT collection consisted of 10,000 unique 3D digital collectibles created in April 2022 by the artist Damien Guimoneau in a Solana-based project that promoted a virtual world where users could socialize and play with others, including the basketball star.
Related: NFT sales plunge 63% in Q1, but Pudgy Penguins, Doodles buck trend
There has been no activity or sales from the collection for the past two years, according to NFT marketplace OpenSea.
Overall, NFT sales are still in deep bear market territory, with just $27 million sold as of April 7, down from more than $2 billion per week at the end of 2021, according to CryptoSlam.
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