Party leaders make political pitches to public in New Year messages

Published

1 year ago

December 31, 2023

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UK political leaders have delivered their New Year messages as they prepare for the battle ahead at the ballot box.

Prime Minister Rishi Sunak struck a positive tone in his remarks, looking back on what he deemed a “momentous year” and promising the Conservatives would “keep driving forward” in 2024 with tax cuts, lowering inflation and “cutting the cost of living for everyone”.

Labour’s Sir Keir Starmer highlighted the “tough year” gone by – both economically and with conflicts in Ukraine and the Middle East – but pledged a future of “hope” and “change”.

Meanwhile, Liberal Democrat leader Sir Ed Davey lashed out at both his rivals, insisting his party would “transform the nature of British politics for good” and “fix… a broken political system”.

The messages come as politicians of all stripes prepare for the next general election, which is expected to take place in 2024 – and has to be held before January 2025.

What could 2024 have in store for UK politics?

Mr Sunak, who is hoping to achieve a record fifth win for the Tories, but is lagging behind in the polls, decided to focus his message on the government’s achievements in 2023 – rather than the pledges he made for the year that they missed.

“We’ve delivered record funding for the NHS and social care,” he said. “Schools in England are surging up the global league tables.

“We’re getting the economy growing. We’ve cut inflation in half. We’ve delivered the biggest business tax cut in modern British history.

“And in just the last few weeks, we’ve seen an incredible £60bn of investment into the UK. So my New Year’s resolution is to keep driving forward.”

The prime minister insisted his party was “not stopping there”, saying: “We’re going further to grow our economy by reducing debt, cutting taxes, and rewarding hard work, building secure supplies of energy here at home, backing British business and delivering world class education.”

And he promised to take “decisive action to stop the boats” – an issue that has threatened his leadership in recent weeks.

Mr Sunak said the country “should look forward full of pride and optimism for what we can do together to build a brighter future for everyone”.

The key economic graphs that describe 2023

For Sir Keir, who is hoping to get Labour back in the driving seat at the next election, but faces problems with his own personal ratings in the polls, the message was more mixed.

He said 2023 had been “a year of pride and achievement”, pointing to the successes of England’s Lionesses in the Women’s World Cup and the coronation of King Charles.

But, the Labour leader added: “It has also been another tough year economically for millions of people. And, beyond our shores, a time of great insecurity with war still raging in Ukraine, and enormous suffering in Israel and Gaza.”

On the Middle East conflict, which has caused division in his party, he promised Labour would “do everything we can in 2024 to push for a political solution” – namely a two-state solution – saying it was “a hope that maybe fragile, but that must be kept alive”.

And he said it was “hope” that offered “the fuel for change” going forward, delivering a wider promise that come the election, his party would “renew our politics so it once again serves our country”.

Sir Keir added: “I know that politics isn’t held in particularly high regard in Britain. But I have spent four years bringing the Labour Party back to service. And in 2024 – we can do the same for politics.

“Let’s make sure this is the year where together we get Britain’s future back.”

This year’s surprising political moments

In his punchy message, Sir Ed – who hopes to build on his small base of MPs in the next election – focused his ire on the Tories and Labour, promising “radical change” in 2024.

The Lib Dem leader highlighted the issues he believed needed tackling, including “entrenched poverty and inequality”, “climate change and the nature crisis”, and “Britain’s diminished standing in an increasingly authoritarian world”.

But he claimed the “broken political system” in Britain “leaves millions feeling powerless and excluded [and] makes it impossible to hold those in power properly to account”.

So, Sir Ed said: “It falls to us, to Liberal Democrats, to be the agents of change, once again, and bring millions with us, to make it happen.”

He added: “We must do nothing less than transform the nature of British politics for good. Hand back far more control to individuals and communities.

“Fight for a fair deal, that empowers everyone, and holds the already powerful to account. Smash the two-party system, reform our elections, and give everyone an equal voice.

“Because that is the only way we can build a fairer, greener, more caring country. That is our goal. That is our calling.”

Politics

US court pauses 18-state lawsuit against SEC after agency’s leadership change

Published

5 hours ago

April 17, 2025

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US court pauses 18-state lawsuit against SEC after agency’s leadership change

A US federal judge has agreed to pause a lawsuit filed by 18 state attorneys general and the crypto lobby group DeFi Education Fund against the Securities and Exchange Commission after all parties said new SEC leadership could make the action moot.

Kentucky District Court Judge Gregory Van Tatenhove ordered a 60-day stay on the case on April 16, noting a mid-March filing from the SEC that “this case could potentially be resolved” due to a leadership transition at the regulator.

He added that the parties must file a joint status report within 30 days.

Paul Atkins, a Wall Street adviser who has held board positions with crypto advocacy groups, was sworn in as the new SEC chair earlier this month, replacing acting chair Mark Uyeda and taking over from Gary Gensler.

The 18 attorneys general, all hailing from Republican states, filed the lawsuit with the DeFi Education Fund against the securities regulator in November, alleging that the SEC exceeded its authority when targeting crypto exchanges with lawsuits, accusing the regulator and then-chair Gensler of “gross government overreach.”

The plaintiffs included attorneys general from Nebraska, Tennessee, Wyoming, Kentucky, West Virginia, Iowa, Texas, Mississippi, Ohio, Montana, Indiana, Oklahoma and Florida, among others.

“Without Congressional authorization, the SEC has sought to unilaterally wrest regulatory authority away from the States through an ongoing series of enforcement actions,” the lawsuit stated.

DeFi groups drop case against IRS over killed broker rule

Meanwhile, the DeFi Education Fund, Blockchain Association, and Texas Blockchain Council dropped their lawsuit against the Internal Revenue Service on April 16.

“The parties hereby stipulate to voluntary dismissal of this action without prejudice because the case has become moot,” stated the filing.

The lawsuit, filed in December, argued that the so-called IRS DeFi broker rule went beyond the agency’s authority and was unconstitutional.

On April 11, President Donald Trump signed a bill to revoke the rule that would have required DeFi protocols to report transactions to the IRS.

It comes as the SEC has paused or dropped several high-profile lawsuits against crypto companies this year under its new leadership.

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Politics

Panama’s capital to accept crypto for taxes, municipal fees

Published

13 hours ago

April 16, 2025

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<div>Panama's capital to accept crypto for taxes, municipal fees</div>

Panama’s capital city will accept cryptocurrency payments for taxes and municipal fees, including bus tickets and permits, Panama City mayor Mayer Mizrachi announced on April 15, joining a growing list of jurisdictions globally that have voted to accept such payments.

Panama City will begin accepting Bitcoin (BTC), Ether (ETH), Circle’s USDC (USDC), and Tether’s USDt (USDT) stablecoin for payment once the crypto-to-fiat payment rails are established, Mizrachi posted on the X platform.

Mizrachi said previous administrations attempted to push through similar legislation but failed to overcome stipulations requiring the local government to accept funds denominated in US dollars.

In a translated statement, the Panama City mayor said that the local government partnered with a bank that will immediately convert any digital assets received into US dollars, allowing the municipality to accept crypto without introducing new legislation.

Panama City joins a growing list of global jurisdictions on the municipal and state level accepting cryptocurrency payments for taxes, exploring Bitcoin strategic reserves to protect public treasuries from inflation and passing pro-crypto policies to attract investment.

Taxes, Panama, Bitcoin Adoption — *Source:* *Mayer Mizrachi*

Municipalities and states embrace digital assets

Several municipalities and territories around the globe already accept crypto for tax payments or are exploring various implementations of blockchain technology for government spending.

The US state of Colorado started accepting crypto payments for taxes in September 2022. Much like Panama City said it will do, Colorado immediately converts the crypto to fiat.

In December 2023, the city of Lugano, Switzerland, announced taxes and city fees could be paid in Bitcoin, which was one of the developments that earned it the reputation of being a globally recognized Bitcoin city.

The city council of Vancouver, Canada, passed a motion to become “Bitcoin-friendly city” in December 2024. As part of that motion, the Vancouver local government will explore integrating BTC into the financial system, including tax payments.

North Carolina lawmaker Neal Jackson introduced legislation titled “The North Carolina Digital Asset Freedom Act” on April 10. If passed, the bill will recognize cryptocurrencies as an official form of payment that can be used to pay taxes.

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Politics

Fed’s Powell reasserts support for stablecoin legislation

Published

16 hours ago

April 16, 2025

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<div>Fed's Powell reasserts support for stablecoin legislation</div>

As digital assets gain mainstream adoption, establishing a legal framework for stablecoins is a “good idea,” said US Federal Reserve Chair Jerome Powell.

In an April 16 panel at the Economic Club of Chicago, Powell commented on the evolution of the cryptocurrency industry, which has delivered a consumer use case that “could have wide appeal” following a difficult “wave of failures and frauds,” he said.

Fed's Powell reasserts support for stablecoin legislation

Powell delivers remarks at the Economic Club of Chicago. Source: Bloomberg Television

During crypto’s difficult years, which culminated in 2022 and 2023 with several high-profile business failures, the Fed “worked with Congress to try to get a […] legal framework for stablecoins, which would have been a nice place to start,” said Powell. “We were not successful.”

“I think that the climate is changing and you’re moving into more mainstreaming of that whole sector, so Congress is again looking […] at a legal framework for stablecoins,” he said.

“Depending on what’s in it, that’s a good idea. We need that. There isn’t one now,” said Powell.

This isn’t the first time Powell acknowledged the need for stablecoin legislation. In June 2023, the Fed boss told the House Financial Services Committee that stablecoins were “a form of money” that requires “robust” federal oversight.

Support for stablecoin legislation is growing

The election of US President Donald Trump has ushered in a new era of pro-crypto appointments and policy shifts that could make America a digital asset superpower.

Washington’s formal embrace of cryptocurrency began earlier this year when Trump established the President’s Council of Advisers on Digital Assets, with Bo Hines as the executive director.

Hines told a digital asset summit in New York last month that a comprehensive stablecoin bill was a top priority for the current administration. After the Senate Banking Committee passed the GENIUS Act, a final stablecoin bill could arrive at the president’s desk “in the next two months,” said Hines.

Bo Hines (right) speaks of “imminent” stablecoin legislation at the Digital Asset Summit on March 18. Source: Cointelegraph

Stablecoins pegged to the US dollar are by far the most popular tokens used for remittances and cryptocurrency trading.

The combined value of all stablecoins is currently $227 billion, according to RWA.xyz. The dollar-pegged USDC (USDC) and USDt (USDT) account for more than 88% of the total market.

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