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Migrants who have been refused asylum in the UK will be offered thousands of pounds to move to Rwanda under a new “voluntary” scheme drawn up by the government, according to reports.

The move, which is separate to the government’s plan to send to people to Rwanda to have their claims processed, has already been agreed with the east African country, The Times newspaper is reporting.

The new relocation scheme is designed to remove migrants who have no legal right to stay in the UK but cannot be returned to their home country.

The Home Office hasn’t yet confirmed the payment scheme, but has said it is “exploring voluntary relocations… to Rwanda”.

The Times reports it will be aimed at individuals who do not have an outstanding asylum claim and are in a position to be relocated swiftly to Rwanda, which the government deems a safe third nation.

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Immigration officials will reportedly approach migrants whose asylum applications have failed and encourage them to accept the money and relocate to Rwanda.

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The scheme is said to be an extension of the existing Home Office voluntary returns scheme, under which migrants are offered financial assistance worth up to £3,000 to leave the UK for their country of origin.

Asylum seekers who refuse the financial incentive to move to Rwanda will be unable to officially work or claim benefits in the UK, The Times says.

In response to the report, a Home Office spokesperson said: “In the last year, 19,000 people were removed voluntarily from the UK and this is an important part of our efforts to tackle illegal migration.

“We are exploring voluntary relocations for those who have no right to be here, to Rwanda, who stand ready to accept people who wish to rebuild their lives and cannot stay in the UK.

“This is in addition to our Safety of Rwanda Bill and Treaty which, when passed, will ensure people who come to the UK illegally are removed to Rwanda.”

The government is understood to believe the voluntary scheme can be brought into effect quickly because it will draw on existing structures outlined by the deportation agreement already in place with Rwanda and existing voluntary returns processes.

However, the new Rwanda deal would reportedly mark the first time migrants will have been paid to leave the UK without going back to their country of origin.

Rishi Sunak
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Rishi Sunak’s pan to deport some asylum seekers to Rwanda is heading back to the Commons.

It comes as Prime Minister Rishi Sunak‘s legislation designed to revive his plan to deport some asylum seekers to Rwanda – the Safety of Rwanda (Asylum and Immigration) Bill – heads back to the House of Commons.

The government will seek to overturn a string of amendments to the bill agreed by peers in the House of Lords.

Changes backed by the Lords include overturning the government’s bid to oust the courts from the deportation process.

The extension of the voluntary scheme raises further questions about the bill, which is intended to prevent continued legal challenges to the stalled deportation scheme after the Supreme Court ruled the plan was unlawful.

Labour accused ministers of having to resort “to paying people” to go Rwanda because they know their deportation scheme “has no chance of succeeding”.

Shadow immigration minister Stephen Kinnock MP said: “We know from the treaty that capacity in Rwanda is very limited, so ministers should now explain what this new idea means for the scheme as it was originally conceived, and they should also make clear how many people they expect to send on this basis, and what the cost will be.

“There have been so many confused briefings around the Rwanda policy that the public will be forgiven for treating this latest wheeze with a degree of scepticism.”

The prime minister had previously warned the House of Lords against frustrating “the will of the people” by hampering the passage of the bill, which has already been approved by MPs.

The Commons will get a chance to debate and vote on the amendments on 18 March.

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US DOJ requests 20-year sentence for Celsius founder Alex Mashinsky

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US DOJ requests 20-year sentence for Celsius founder Alex Mashinsky

US DOJ requests 20-year sentence for Celsius founder Alex Mashinsky

Alex Mashinsky, the founder and former CEO of the now-defunct cryptocurrency lending platform Celsius, faces a 20-year prison sentence as the US Department of Justice (DOJ) is seeking a severe penalty for his fraudulent activity.

The US DOJ on April 28 filed the government’s sentencing memorandum against Mashinsky, recommending a 20-year prison sentence due to his fraudulent actions leading to multibillion-dollar losses by Celsius customers.

The 97-page memo mentioned that Celsius users were unable to access approximately $4.7 billion in crypto assets after the platform halted withdrawals on June 12, 2022.

“The Court should sentence Alexander Mashinsky to twenty years’ imprisonment as just punishment for his years-long campaign of lies and self-dealing that left in its wake billions in losses and thousands of victimized customers,” the DOJ stated.

Mashinsky’s personal benefit was $48 million

In addition to listing massive investor losses resulting from the Celsius fraud, the DOJ mentioned that Mashinsky has personally profited from the fraudulent schemes in his role.

As part of his plea in December 2024, Mashinsky admitted that he was the leader of the criminal activity at Celsius, that his crimes resulted in losses in excess of $550 million, and that he personally benefited more than $48 million, the authority said.

US DOJ requests 20-year sentence for Celsius founder Alex Mashinsky
An excerpt from the government’s sentencing memorandum against Celsius founder Alex Mashinsky. Source: CourtListener

The DOJ emphasized that Mashinsky’s guilty plea showed that his crimes were “not the product of negligence, naivete, or bad luck,” but rather the result of “deliberate, calculated decisions to lie, deceive, and steal in pursuit of personal fortune.”

This is a developing story, and further information will be added as it becomes available.

Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26

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Russian ruble stablecoin: Exec lists 7 ‘Tether replica’ features

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Russian ruble stablecoin: Exec lists 7 ‘Tether replica’ features

Russian ruble stablecoin: Exec lists 7 ‘Tether replica’ features

The concept of a Russian ruble stablecoin received special attention at a major local crypto event, the Blockchain Forum in Moscow, with key industry executives reflecting on some of the core features a ruble-backed stablecoin might require.

Sergey Mendeleev, founder of the digital settlement exchange Exved and inactive founder of the sanctioned Garantex exchange, put forward seven key criteria for a potential “replica of Tether” in a keynote at the Blockchain Forum on April 23.

Mendeleev said a potential ruble stablecoin must have untraceable transactions and allow transfers without Know Your Customer (KYC) checks.

However, because one of the criteria also requires the stablecoin to comply with Russian regulations, he expressed skepticism that such a product could emerge soon.

The DAI model praised 

Mendeleev proposed that a potential Russian “Tether replica” must be overcollateralized similarly to the Dai (DAI) stablecoin model, a decentralized algorithmic stablecoin that maintains its one-to-one peg with the US dollar using smart contracts.

“So, any person who buys it will understand that the contract is based on the assets that super-securitize it, not somewhere on some unknown accounts, but free to be checked by simple crypto methods,” he said.

Russian ruble stablecoin: Exec lists 7 ‘Tether replica’ features
Source: Cointelegraph

Another must-have feature should be excess liquidity on both centralized and decentralized exchanges, Mendeleev said, adding that users must be able to exchange the stablecoin at any time they need.

According to Mendeleev, a viable ruble-pegged stablecoin also needs to offer non-KYC transactions, so users are not required to pass their data to start using it.

“The Russian ruble stablecoin should have the opportunity where people use it without disclosing their data,” he stated.

Related: Russia’s central bank, finance ministry to launch crypto exchange

In the meantime, users should be able to earn interest on holding the stablecoin, Mendelev continued, adding that offering this feature is available via smart contracts.

Russia opts for centralization

Mendeleev also suggested that a potential Russian version of Tether’s USDt (USDT) would need to feature untraceable and cheap transactions, while its smart contracts should not enable blocks or freezes.

The final criterion is that a potential ruble stablecoin would have to be regulated in accordance with the Russian legislation, which currently doesn’t look promising, according to Mendeleev.

Russia, KYC, Fiat Money, Tether, Stablecoin, Policy
Sergey Mendeleev at the Blockchain Forum in Moscow. Source: Bits.Media

“Once we put these seven points together […] then it would be a real alternative, which would help us at least compete with the solutions that are currently on the market,” he stated at the conference, adding:

“Unfortunately, from the point of view of regulation, we are currently going in the absolutely opposite direction […] We are going in the direction of absolute centralization, not in the direction of liberalization of laws, but consolidation of prohibitions.”

Possible solutions

While the regulatory side is not looking good, a potential Russian version of USDT is technically feasible, Mendeleev told Cointelegraph.

“Except for anonymous transactions, everything is easy to implement and has already been deployed by several projects, but it’s just not unified in one project yet,” he said.

The crypto advocate specifically referred to interesting opportunities by projects like the ruble-pegged A7A5 stablecoin, unblockable contracts at DAI, and others.

Related: Russian crypto exchange Mosca raided amid cash-to-crypto ban talks

Regulation is necessary but not enough, Mendeleev said, adding that the most difficult part is the trust of users who must see the ruble stablecoin as a viable alternative to major alternatives like USDT.

Recent reports suggest that the deputy head of Russia’s Finance Ministry’s financial policy department urged the government to develop ruble stablecoins.

Elsewhere, the Bank of Russia has continued to progress its central bank digital currency project, the digital ruble. According to Finance Minister Anton Siluanov, the digital ruble is scheduled to be rolled out for commercial banks in the second half of 2025.

Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26

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Trump or Carney – will Starmer have to choose?

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Trump or Carney – will Starmer have to choose?

👉Listen to Politics at Sam and Anne’s on your podcast app👈

The morning political podcast which gives you all need for the day ahead in 20 minutes, usually with Sky News’ Sam Coates and Politico’s Anne McElvoy.

But, for this episode, Anne is somewhere over the Atlantic travelling back from the US so Sam is joined by Politico’s Tim Ross.

Mark Carney’s Liberal Party has won the Canadian election. It’ll give Keir Starmer a centre-left ally at G7 but how will the PM position himself now in the Trump-Carney standoff?

Elsewhere, with political leaders out and about in Bristol, Scunthorpe, South Cambridgeshire and Wiltshire – there are plenty of clues about the biggest target seats in the last 48 hours before local election voting.

To find lists of candidates in all the local elections, you can search here: https://www.electoralcommission.org.uk/i-am-a/voter/your-election-information

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