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The government’s flagship immigration policy, known as the Rwanda plan, is hanging in the balance this morning after the highest court in the land found it to be unlawful.

But what is the scheme? Why is it so controversial? And how has it ended up in the judicial system?

The Rwanda plan was first proposed by Boris Johnson back in April 2022 as the government came under increasing pressure to tackle the growing number of small boats crossing the Channel.

The then prime minister outlined his policy that would see anyone arriving in the country illegally deported to the east African nation.

Those who successfully applied for refugee status when there would then be given the right to remain in Rwanda – not return to the UK.

But if their claim was unsuccessful, they could then be removed to their country of origin.

The deal, signed by the home secretary at the time, Priti Patel, and her Rwandan counterpart, cost the government £120m.

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Boris Johnson: ‘We must defeat people smugglers’

Mr Johnson said it would help deter people from making the dangerous crossing to the UK and tackle the “barbaric trade in human misery” caused by people traffickers.

Opposition parties and charities deemed the plan “cruel and nasty”, and claimed the policy would break international human rights laws.

There were even reports that the King – then the Prince of Wales – was a critic of the scheme.

But the government pushed ahead, with the first flight to Kigali set to take off in June 2022.

Come the day, there were only seven asylum seekers on board the plane.

Numerous court cases were launched by refugee charities, as well as the Public and Commercial Services union, ahead of take-off, calling the policy “inhumane” and demanding the deportations were stopped.

Protesters also tried to stop the flight, locking themselves together with metal pipes and blockading exits of the Colnbrook Immigration Removal Centre at Heathrow, where the migrants were believed to be held.

However, judges in the UK ruled the seven people could be deported, saying there had been an “assurance” from the government that if the policy was found to be unlawful at a later stage, steps would be taken to bring back any migrants.

This didn’t stop further last-minute legal challenges to prevent take-off though.

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Labour’s Sir Keir Starmer dubbed the government’s Rwanda plan a ‘gimmick’.

In the end, the European Court of Human Rights (ECHR) issued injunctions to halt the deportations altogether, leaving the plane grounded on a Ministry of Defence runway.

The government said it would appeal against the ruling, with Tory MPs angered that a European court could overrule the decision of English judges.

But campaigners said it showed the “inhumanity” of the plan for the human rights watchdog to intervene.

In the months that followed, there was a change in government, with Liz Truss taking the keys to Number 10 and Suella Braverman heading up the Home Office.

Both women stood by the Rwanda plan and, even when Ms Truss was ousted weeks later, her successor Rishi Sunak also gave it his backing.

The ruling of the EHRC – which ensures the European Human Rights Convention is adhered to – was still fresh in the minds of Tory backbenchers, as they saw it as holding up the policy they believed would stop the boats.

And it led to a number of calls for the UK to leave the convention, though they appeared to remain in the minority.

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Suella Braverman is a vocal advocate of the Rwanda policy

The plan itself headed back to the courts as campaigners tried a new tactic to stop it in its tracks, launching a judicial review on the Home Office’s assessment of Rwanda as a safe third country.

The government doubled down on its belief in the scheme – with Ms Braverman telling the Conservative Party conference it was her “dream” to see flights take off.

And come December of 2022, that dream looked closer to reality, as the High Court ruled in the favour of ministers, saying the scheme did not breach either the UN’s Refugee Convention or human rights laws, and that Rwanda was a “safe third country” for migrants to be sent to.

But the legal battle was far from over.

Campaigners were then allowed to appeal the ruling in the Court of Appeal, and the three sitting judges overturned the High Court’s decision.

Lord Chief Justice Lord Burnett concluded Rwanda was not a safe place for people to be housed while their asylum claims were processed, adding: “The result is that the High Court’s decision that Rwanda was a safe third country is reversed, and unless and until the deficiencies in its asylum process are corrected, removal of asylum seekers will be unlawful.”

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The Court of Appeal ruled against the government

The government was outraged, with the prime minister saying he “fundamentally disagreed” with the ruling, and would do “whatever is necessary” to get the removal flights going.

The anger of Ms Braverman and her right-wing supporters also grew, with further demands to leave the ECHR, and others calling for the human rights convention to be overhauled.

The government got approval to appeal that ruling and, as a result, it was sent to the Supreme Court.

The judgment delivered by the Supreme Court President Lord Rees found that the Court of Appeal had been right to overturn the original decision of the High Court.

He said the justices had unanimously concluded those sent to the country would be at “real risk” of being returned home, whether their grounds to claim asylum were justified or not.

The full judgment said those sent to Rwanda would be at risk of re-foulement – where a refugee is returned to their country of origin where there is a substantial risk they could be subjected to torture.

The court ruling said the principle of re-foulement is not just a breach of the European Human Rights Convention, but a number of other international treaties.

Mr Sunak said ministers would now “consider next steps”.

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Everstake defends non-custodial staking as SEC weighs industry input

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Everstake defends non-custodial staking as SEC weighs industry input

Everstake defends non-custodial staking as SEC weighs industry input

The US Securities and Exchange Commission (SEC) has held discussions with Everstake, one of the largest non-custodial staking providers globally, to explore clearer regulatory definitions around staking in blockchain networks.

The meeting, which also involved the SEC’s Crypto Task Force, comes at a time when over $193 billion in digital assets are staked across major proof-of-stake (PoS) networks.

However, despite the massive scale of participation, staking remains in a legal gray zone in the US as regulators wrestle with its classification under existing securities law.

The previous SEC administration also took enforcement actions against major players such as Kraken, Coinbase, and Consensys due to their staking services. The agency, under pro-crypto President Donald Trump, has recently dismissed these enforcement actions.

During the meeting, Everstake told the SEC that non-custodial staking should not be classified as a securities transaction. The company said that users maintain full control over their digital assets throughout the staking process and do not transfer ownership to a third party.

They argued that this makes staking a technical function, not an investment product.

“Our main assertion is that staking is not a financial instrument or security transaction, but rather a technical process, a base-layer protocol mechanism—akin to an oracle in a database—that maintains the integrity and functionality of decentralized networks,” Everstake founder Sergii Vasylchuk told Cointelegraph.

Everstake defends non-custodial staking as SEC weighs industry input
Everstake team meeting with the SEC. Source: Everstake

Related: SEC delays staking decision for Grayscale ETH ETFs

Everstake calls for regulatory clarity

In a letter submitted to the SEC’s Crypto Task Force on April 8, 2025, Everstake asked the agency to extend regulatory clarity to non-custodial staking and custodial and liquid staking models.

In the letter, which came in respond to Commissioner Hester Peirce’s call for input on regulatory treatment of blockchain services, Everstake argued that non-custodial staking should not be considered a securities offering.

It claimed that non-custodial staking, where users retain control of their tokens, does not involve the pooling of assets or the expectation of profits from managerial efforts.

In its model, Everstake said users delegate only validation rights while maintaining ownership of their digital assets. The staking rewards are algorithmically distributed by the blockchain network itself, and the firm merely provides technical infrastructure.

Related: Ethereum ETF staking will have little impact without multimonth rally: Analyst

Non-custodial staking fails the Howey test

The letter also details why non-custodial staking fails each prong of the Howey test. Users do not make an investment of money in a common enterprise, do not expect profits from Everstake’s efforts, and are not dependent on the company’s management for financial returns.

Instead, any rewards come from network-level incentives and fluctuate with the market value of the underlying asset.

Everstake proposes specific criteria that should exempt non-custodial staking from securities classification. These include user asset control, absence of pooled funds, permissionless unstaking, and the provision of purely technical services.

It likens non-custodial staking to proof-of-work mining, which the SEC has previously ruled out as a securities transaction.

Margaret Rosenfeld, Everstake’s chief legal officer, also told Cointelegraph that “with non-custodial staking, there’s no handover of assets, no investment contract, and no third-party risk.” She added:

“Treating it as a securities offering undermines the decentralized model and risks chilling innovation in the blockchain sector.”

Nevertheless, the SEC has so far withheld a definitive stance. Rosenfeld said that the agency did not make any “specific commitments” on staking guidance. However, it continues to listen to industry stakeholders.

“The Task Force is actively engaging with a range of stakeholders—including those involved with non-custodial staking, ETFs, and broader blockchain infrastructure—to gather input.”

In an April 30 letter to the SEC, nearly 30 crypto advocate groups led by the lobby group the Crypto Council for Innovation (CCI) asked the agency for clear regulatory guidance on crypto staking and staking services.

Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens: Asia Express

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New Zealand man arrested in $265M crypto scam tied to FBI probe

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New Zealand man arrested in 5M crypto scam tied to FBI probe

New Zealand man arrested in 5M crypto scam tied to FBI probe

A man from Wellington, the capital city of New Zealand, has been arrested in connection with an FBI-led investigation into a global cryptocurrency fraud operation that allegedly stole $450 million New Zealand dollars ($265 million).

According to New Zealand Police, the man is one of 13 individuals charged after authorities executed search warrants across Auckland, Wellington, and California over the past three days.

The charges stem from allegations that members of an organized criminal group manipulated seven victims to obtain large amounts of cryptocurrency, which was then laundered through multiple platforms between March and August 2024.

The US Department of Justice has indicted the man under federal law, including charges of racketeering, conspiracy to commit wire fraud, and conspiracy to commit money laundering, per the announcement.

New Zealand man arrested in $265M crypto scam tied to FBI probe
Source: New Zealond Police

Related: Germany seizes $38M in crypto from Bybit hack-linked eXch exchange

Scammer used stolen funds to purchase luxury vehicles

Prosecutors allege the stolen funds were used to purchase $9 million worth of luxury vehicles and spent lavishly on high-end goods, including designer handbags, watches, and clothing, as well as services such as nightclub access, private security, and rentals in Los Angeles, Miami, and the Hamptons.

The accused appeared in Auckland District Court and was granted bail with interim name suppression. He is scheduled to reappear on July 3.

“We have worked closely with our law enforcement colleagues in the United States in support of their investigation,” the police stated. They added:

“Today’s search warrant and arrest reflects the importance of international partnerships where criminals are operating across borders.”

The investigation remains ongoing.

Related: Bybit hacker launders 100% of stolen $1.4B crypto in 10 days

Crypto thefts surge to $360 million in April

Digital asset thefts skyrocketed in April 2025, with nearly $360 million stolen across 18 separate hacking incidents, according to data from blockchain security firm PeckShield.

The figure marks a staggering 990% jump from March when reported losses stood at just $33 million. The sharp rise was largely attributed to a single unauthorized Bitcoin transfer that accounted for the bulk of the month’s losses.

On April 28, blockchain analyst ZachXBT identified a suspicious $330 million BTC transaction. The incident was later confirmed as a social engineering attack that targeted an elderly US resident, resulting in one of the largest individual crypto thefts to date.

Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens: Asia Express

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French crypto entrepreneurs to receive extra security amid recent kidnappings: Report

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French crypto entrepreneurs to receive extra security amid recent kidnappings: Report

French crypto entrepreneurs to receive extra security amid recent kidnappings: Report

Crypto entrepreneurs and their families in France will receive enhanced security measures amid a recent rise in crypto-related kidnappings in the country, Politico reported.

According to the May 16 report, the measures include priority access to police emergency lines, home security assessments, and safety briefings from French law enforcement to ensure best practices are being followed.

France’s Interior Minister Bruno Retailleau introduced the security measures as part of a broader effort to counter the recent wave of attacks.

“These repeated kidnappings of professionals in the crypto sector will be fought with specific tools, both immediate and short-term, to prevent, dissuade and hinder in order to protect the industry.”

Law enforcement officers will also undergo “anti-crypto asset laundering training,” Retailleau noted.

Retailleau met with several local leaders from the crypto industry to discuss the measures following three crypto-related kidnapping incidents in recent months.

Two kidnappings and a failed attempt in France this year

The latest incident occurred on May 13, when assailants attempted to abduct the daughter and grandson of Pierre Noizat, CEO of the French crypto platform Paymium. Fortunately, they managed to fend off the attack, which occurred in broad daylight. 

The assailants tried to force the pair into a waiting van, but Noizat’s daughter managed to take one of the guns off an assailant and throw it away, local police said.

On May 3, Paris police freed the father of a crypto entrepreneur who was held for several days in connection with a 7 million euros ($7.8 million) kidnapping plot.

Related: SEC hacker sentenced to 14 months in prison

In January, the co-founder of crypto hardware wallet provider Ledger, David Balland, was abducted from his home in central France during the early hours of Jan. 21. He was held captive until a police operation on the night of Jan. 22 secured his release.

Retailleau said earlier this week that he believes the incidents were likely connected.

There have been over 150 crypto-related robbery or kidnapping incidents since 2014, with 23 of those incidents occurring in 2025 alone, according to a GitHub database maintained by Bitcoin cypherpunk Jameson Lopp.

Lopp noted many of these criminals typically identify future victims through social media posts, public conversations, meetups, and conferences.

He strongly advises against peer-to-peer trades — particularly with people you don’t trust — flaunting wealth on social media and wearing crypto-branded clothing.

Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens

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