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Rishi Sunak has said he will introduce emergency legislation to make sure his Rwanda plan is not blocked again – and insisted “flights will be heading off in the spring as planned”.

After the Supreme Court ruled the flagship asylum policy is unlawful, the prime minister said he had been working on a new international treaty with the East African nation to address the judges’ concerns and ensure it is “safe”.

He said: “This will provide a guarantee in law that those who are relocated from the UK to Rwanda will be protected against removal from Rwanda and it will make clear that we will bring back anyone if ordered to do so by a court.

“We will finalise this treaty in light of today’s judgment and ratify it without delay.”

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Mr Sunak insisted the legislation would “end the merry-go-round” of legal challenges that have stopped flights from taking off since the controversial plan was announced in April last year.

The policy would see anyone arriving in the UK by unauthorised means deported to Rwanda to claim asylum there – not the UK.

“We need to end the merry-go-round,” Mr Sunak told a Downing Street news conference.

“I said I was going to fundamentally change our country, and I meant it.”

The PM said he would be taking the “extraordinary step of introducing emergency legislation”, which will “enable parliament to confirm that with our new treaty, Rwanda is safe”.

But he also acknowledged that even if domestic laws are changed, the government could still face legal challenges from the European Court of Human Rights and vowed: “I will not allow a foreign court to block these flights.”

“If the Strasbourg court chooses to intervene against the express wishes of parliament, I am prepared to do what is necessary to get flights off,” he said.

Read more:
Why Sunak’s promise looks extremely hard to keep | Beth Rigby analysis
Explainer – how did the government policy end up in the courts?

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Supreme Court rules Rwanda plan unlawful

In its ruling on Wednesday, the UK’s highest court said refugees sent to Rwanda would be at “real risk” of being returned to their country of origin, whether their grounds to claim asylum were justified or not – breaching international law.

It has fuelled calls from some Tory MPs to pull the UK out of the European Convention on Human Rights (ECHR) in order to push forward with the plan – something Mr Sunak has so far resisted doing.

An eleventh-hour injunction from the ECHR stopped the first scheduled flights from taking off to Rwanda’s capital Kigali last June, and no one has been deported since.

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Asylum seekers celebrate Rwanda verdict

The Supreme Court judges said it is not only the ECHR which is relevant to their ruling, pointing out that the UK is signed up “other international treaties which also prohibit the return of asylum seekers to their countries of origin without a proper examination of their claims”.

What happens now?


Sam Coates

Sam Coates

Deputy political editor

@SamCoatesSky

The prime minister set out a two part plan – first, putting the Rwanda agreement into a treaty, ensuring once asylum seekers are taken to the country, they will stay there.

But it was the second bit that we didn’t know was coming that could prove controversial – the emergency legislation.

It sounds as if the PM is planning to pass a law that declares Rwanda a ‘safe’ country and that cannot be challenged in the UK courts on the basis of the European Human Rights Convention and other international human rights laws.

In effect, the UK courts would have to accept that judgment as parliament is sovereign. So, providing this legislation doesn’t get gummed up in the House of Lords, that’s the domestic courts sorted.

However, that legislation would not override the European Court of Human Rights in Strasbourg.

An asylum seeker would be able to take their claim to that court, which would then make its own judgment on whether Rwanda is ‘safe’, as the UK government would have declared.

Even before they have ruled, the Strasbourg court could issue a “rule 39” order to block flights. It sounds from the news conference as if Sunak would simply ignore that if it came again. This means there’s a much higher chance flights to Rwanda might be able to take off.

A judgment from the Strasbourg court that Rwanda is not, in fact, a safe country would in time likely set up a huge political and legal battle for the government.

Would they simply ignore the ruling and send flights to Rwanda anyway? Is the government happy to be in breach of the European Convention of Human Rights? Would we be expelled or leave?

Big questions, but perhaps ones not settled this side of an election. Which might just be the point.

Mr Sunak was not clear about how he thinks he can circumvent human rights laws and international conventions.

However he said he was confident that his new plan will work.

The PM said he is “delivering” on his pledge to stop the boats, and the new treaty is “ready to go” to reassure the courts.

“We will clear the remaining barriers and flights will be heading off in the spring as planned,” he added.

The news conference came shortly after new snap polling from YouGov show most people believe the policy should now be scrapped.

However, some Tory MPs want Mr Sunak to go further and disapply human rights laws so the scheme can go ahead.

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Rwanda ruling ‘massive blow’ to PM

Suella Braverman, who was sacked as home secretary on Monday, has called for emergency legislation to “block off the ECHR and other routes of legal challenge”.

Conservative Party deputy chairman Lee Anderson said the government should “ignore the laws” and send migrants back the same day they arrive in the UK.

The New Conservatives, a right-wing pressure group of MPs, said Mr Sunak’s new legislation “must disapply the Human Rights Act and give effect to the policy *notwithstanding* the ECHR and Refugee Convention”.

“It must restate the power of Govt to disregard interim rulings from Strasbourg,” they posted on X.

Britain is expected to pay Rwanda more money for the new treaty, having already handed over £140m under the plans that have seen not one asylum seeker removed since it was announced.

Earlier, Labour leader Sir Keir Starmer demanded an apology to the nation from Mr Sunak for wasting millions of pounds of taxpayers’ cash on the “ridiculous, pathetic spectacle”.

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Deloitte predicts $4T tokenized real estate on blockchain by 2035

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Deloitte predicts T tokenized real estate on blockchain by 2035

Deloitte predicts T tokenized real estate on blockchain by 2035

Over $4 trillion worth of real estate could be tokenized on blockchain networks during the next decade, potentially offering investors greater access to property ownership opportunities, according to a new report.

The Deloitte Center for Financial Services predicts that over $4 trillion worth of real estate may be tokenized by 2035, up from less than $300 billion in 2024. The report, published April 24, estimates a compound annual growth rate (CAGR) of more than 27%.

The $4 trillion of tokenized property is predicted to stem from the benefits of blockchain-based assets, as well as a structural shift across real estate and property ownership.

Deloitte predicts $4T tokenized real estate on blockchain by 2035
Global tokenized real estate value, growth predictions. Source: Deloitte

“Real estate itself is undergoing transformation. Post-pandemic work-from-home trends, climate risk, and digitization have reshaped property fundamentals,” according to Chris Yin, co-founder of Plume Network, a blockchain built for real-world assets (RWAs).

“Office buildings are being repurposed into AI data centers, logistics hubs and energy-efficient residential communities,” Yin told Cointelegraph.

“Investors want targeted access to these modern use cases, and tokenization enables programmable, customizable exposure to such evolving asset profiles,” he said.

Related: Blockchain needs regulation, scalability to close AI hiring gap

The uncertainty triggered by US President Donald Trump’s import tariffs has boosted investor interest in the RWA tokenization sector, which involves minting financial products and tangible assets on a blockchain.

Both stablecoins and RWAs have attracted significant capital as safe-haven assets amid the global trade concerns, Juan Pellicer, senior research analyst at IntoTheBlock, told Cointelegraph.

The tariff concerns also led tokenized gold volume to surpass $1 billion in trading volume on April 10, its highest level since March 2023 when a US banking crisis saw the sudden collapse of Silicon Valley Bank and the voluntary liquidation of Silvergate Bank

Related: US banks are ‘free to begin supporting Bitcoin’ — Michael Saylor

Blockchain innovation could drive regulatory clarity

Growing RWA adoption may inspire a more welcoming stance from global regulators, Yin said.

“While regulation is a hurdle, regulation follows usage,” he explained, likening tokenization to Uber’s growth before widespread regulatory acceptance:

“Tokenization is similar — as demand increases, regulatory clarity will follow.”

He added that making tokenized products compliant with a wide range of international regulations is key to unlocking broader market access.

However, some industry watchers are skeptical about the benefits introduced by tokenized real estate.

Deloitte predicts $4T tokenized real estate on blockchain by 2035
The Truth Behind Tokenization and RWA panel. Source: Paris Blockchain Week

“I don’t think tokenization should have its eyes directly set on real estate,” said Securitize chief operating officer Michael Sonnenshein at Paris Blockchain Week 2025.

“I’m sure there are all kinds of efficiencies that can be unlocked using blockchain technology to eliminate middlemen, escrow, and all kinds of things in real estate. But I think today, what the onchain economy is demanding are more liquid assets,” he added. 

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Crypto banking rule withdrawal by Fed ‘not real progress’ — Senator Lummis

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Crypto banking rule withdrawal by Fed ‘not real progress’ — Senator Lummis

Crypto banking rule withdrawal by Fed ‘not real progress’ — Senator Lummis

United States Senator Cynthia Lummis suggests the crypto industry may be celebrating too soon over the US Federal Reserve softening its crypto guidance for banks.

“The Fed withdrawing crypto guidance is just noise, not real progress,” Lummis said in an April 25 X post. Lummis called the Fed’s April 24 announcement — withdrawing its 2022 supervisory letter that had discouraged banks from engaging with crypto and stablecoin activities — “just lip service.”

Lummis’ tone was different from the rest of the crypto industry

Lummis, a pro-crypto advocate known for introducing the Bitcoin (BTC) Strategic Reserve Bill in July 2024, pointed out several flaws in the Fed’s announcement, even as Strategy founder Michael Saylor and crypto entrepreneur Anthony Pompliano suggested it was a step forward for banks and crypto.

Cryptocurrencies, United States
Source: Anthony Pompliano

She argued that the Fed continues to “illegally flout the law on master accounts” and still relies on reputational risk in its bank supervision practices. It comes as the Federal Insurance Deposit Corporation (FDIC) is working on a rule to stop examiners from considering reputational risk when reviewing a bank’s operations, according to a recent Bloomberg report.

Lummis also highlighted the Fed’s policy statement in Section 9(13), which hasn’t been withdrawn, stating that Bitcoin and digital assets are considered “unsafe and unsound.”

She also reiterated many of the same staff behind Operation Chokepoint 2.0 are still involved in crypto policy today.

“We are NOT fooled. The Fed assassinated companies within the industry and hurt American interests by stifling innovation and shuttering businesses. This fight is far from over.”

“I will continue to hold the Fed accountable until the digital asset industry gets more than a life jacket, Chair Powell — they need a fair shake,” Lummis said.

Related: If Trump fired Powell, what would happen to crypto?

Custodia Bank founder and CEO Caitlin Long seemed to share a similar view to Lummis.

“THANK YOU for seeing this for what it is,” Long said.

Cryptocurrencies, United States
Source: David Sacks

However, many crypto executives praised the Fed’s announcement as a positive development for the industry. Saylor said in an April 25 X post that the Fed’s move means that “banks are now free to begin supporting Bitcoin.”

Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum, said the Fed’s decision “is a significant development, as it will simplify the path to institutional adoption.”

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SEC chair suggests ‘huge benefits’ in agency’s third crypto roundtable

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<div>SEC chair suggests 'huge benefits' in agency's third crypto roundtable</div>

<div>SEC chair suggests 'huge benefits' in agency's third crypto roundtable</div>

In one of his first appearances as the recently sworn-in chair of the US Securities and Exchange Commission, Paul Atkins delivered remarks to the agency’s third roundtable discussion of crypto regulation. 

In the “Know Your Custodian” roundtable event on April 25, Atkins said he expected “huge benefits” from blockchain technology through efficiency, risk mitigation, transparency, and cutting costs. He reiterated that among his goals at the SEC would be to facilitate “clear regulatory rules of the road” for digital assets, hinting that the agency under former chair Gary Gensler had contributed to market and regulatory uncertainty. 

“I look forward to engaging with market participants and working with colleagues in President Trump’s administration and Congress to establish a rational fit-for-purpose framework for crypto assets,” said Atkins.

SEC chair suggests 'huge benefits' in agency's third crypto roundtable
SEC chair Paul Atkins addressing the April 25 crypto roundtable. Source: SEC

Some critics of US President Donald Trump see Atkins’ nomination to lead the SEC as a nod to the crypto industry, acting on campaign promises to remove Gensler — the former chair resigned the day Trump took office — and cut back on regulation. Democratic lawmakers on the Senate Banking Committee questioned Atkins on his ties to the industry, potentially presenting conflicts of interest in his role regulating crypto.

Related: Atkins SEC era sparks massive industry optimism, crypto execs speak out

The direction of the SEC under new leadership

“We’ve noticed that we don’t have to be as concerned […] about being accused of things that we’re not doing, like being broker-dealers for securities,” Exodus chief legal officer Veronica McGregor, who participated in the roundtable, told Cointelegraph on April 24.”It’s just a less scary regulatory environment in general. It is, however, still unclear what the ultimate regs are going to look like for crypto.” 

The SEC crypto task force is scheduled to hold two more roundtables in May and June to discuss tokenization and decentralized finance, respectively. Commissioner Hester Peirce, who leads the task force, told Cointelegraph in March that she welcomed the opportunity to work with Atkins to “reorient the agency,” hinting at an SEC with regulations more favorable to the crypto industry.

In addition to the roundtables, the crypto task force has reported several meetings with digital asset firms to discuss various policies and considerations in developing a regulatory framework.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

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