The latest data exceeds the previous record high figure of 4,548 for January to March 2022 and had already surpassed the 3,793 arrivals in the first few months of last year.
It comes after Rishi Sunak continued to insist his plan to “stop the boats” was working despite crossings in 2024 tracking ahead of recent years.
Image: A group of people thought to be migrants are brought in to Dover, Kent, on 26 March. Pic: PA
Last week, Downing Street declared that the government was dealing with a “migration emergency” after a record day for crossings.
Some 514 people made the journey in 10 boats on 20 March, making this the busiest day since the start of the year.
The “stop the boats” pledge was one of the prime minister’s five priorities that he set out at the start of 2023, in which he said he would “pass new laws to stop small boats, making sure that if you come to this country illegally, you are detained and swiftly removed”.
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In keeping with this, last year a total of 29,437 migrants arrived in the UK after crossing the Channel, down 36% on a record 45,774 arrivals in 2022.
But figures from this year show that so far, crossings are 23% higher than the same time in 2023, and 12% higher than the same time in 2022, according to analysis of government data by the PA news agency.
The government’s Rwanda Bill also remains stuck in parliamentary limbo after a series of further defeats in the Lords, with MPs not scheduled to debate it again until after Westminster returns from its Easter break.
‘Time to get a grip’
Reacting to the figures on Wednesday, Labour said it was “time to get a grip and restore order to the border”.
Stephen Kinnock, shadow immigration minister, said: “Despite all the evidence to the contrary, Rishi Sunak keeps on telling the British people that small boat arrivals are coming down and his promise to stop the boats remains on track.
“Can he not see what is happening from inside his No 10 bunker, or does he think we can’t see it for ourselves?
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‘Aggressive tactics’ used on boats
“Either way, it’s time to get a grip and restore order to the border.”
He said a Labour government would strengthen border security, crush smuggling gangs, clear the asylum backlog, end hotel use and set up a new returns and enforcement unit.
In its latest statement on small boat crossings, the Home Office said: “The unacceptable number of people who continue to cross the Channel demonstrates exactly why we must get flights to Rwanda off the ground as soon as possible.
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“We continue to work closely with French police who are facing increasing violence and disruption on their beaches as they work tirelessly to prevent these dangerous, illegal and unnecessary journeys.
“We remain committed to building on the successes that saw arrivals drop by more than a third last year, including tougher legislation and agreements with international partners, in order to save lives and stop the boats.”
With US President Donald Trump threatening to sue the BBC, how likely is the broadcaster to pay out? And how have those across the political spectrum been reacting?
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Brazil’s central bank completed rules that bring crypto companies under banking-style oversight, classifying stablecoin transactions and certain self-custody wallet transfers as foreign-exchange operations.
Under Resolutions 519, 520 and 521, published Monday, the Banco Central do Brasil (BCB) established operational standards and authorization procedures for what it calls Sociedades Prestadoras de Serviços de Ativos Virtuais (SPSAVs), a new category of licensed virtual-asset service providers operating in the country.
The framework extends existing rules on consumer protection, transparency and Anti-Money Laundering (AML) to crypto brokers, custodians and intermediaries.
The rules will take effect on Feb. 2, 2026, with mandatory reporting for capital-market and cross-border operations set to begin on May 4, 2026.
Stablecoins under foreign exchange rules
Under Resolution 521, a purchase, sale or exchange of fiat-pegged virtual assets, including international transfers or payments using such assets, will be treated as foreign-exchange (FX) operations.
With this classification, stablecoin activity will be subject to the same scrutiny as cross-border remittances or currency trades.
Licensed FX institutions and the new SPSAVs will be able to perform these operations, subject to documentation and value limitations. According to the BCB, transactions with unlicensed foreign counterparts will be capped at $100,000 per transfer.
The rules also cover transfers to and from self-custodied wallets when intermediated by a service provider. This means that providers must identify the wallet’s owner and maintain their processes that verify the origin and destination of the assets, even if the transfer itself isn’t cross-border.
This provision extends AML and transparency obligations to areas previously considered outside the scope of regulated finance.
While the rules don’t explicitly ban self-custody, they close a key reporting gap, forcing regulated exchanges and brokers to treat wallet interactions like formal FX operations.
BCB says the goal is to promote efficiency and legal certainty
In the announcement, the BCB said its goal is to ensure “greater efficiency and legal certainty,” prevent regulatory arbitrage and align crypto activities with the country’s balance-of-payments (BoP) statistics, which means making stablecoin transfers visible in official financial data.
The move follows months of public consultation and growing concern from the central bank on the dominance of stablecoin use in Brazil. On Feb. 7, BCB President Gabriel Galipolo said that around 90% of crypto activity in Brazil involved stablecoins, mainly used for payments.
Galipolo said the widespread use of stablecoins in payments presented regulatory and oversight challenges, particularly in areas such as money laundering and taxation.
Brazil’s central bank said the new framework aims to curb scams and illicit activity while providing legal clarity to crypto markets.
For crypto builders, this may raise compliance costs and reshape how local platforms interact with global liquidity. Smaller crypto players will be forced to compete with bigger institutions and meet more stringent banking-grade standards.
The rules will take effect in February 2026, but market participants are expected to start restructuring before then.
For Brazil, where crypto activity is second only to Argentina in Latin America, the new regulations signal a decisive shift from experimentation to integrated oversight.
The new rules show that crypto is welcome in the Brazilian financial ecosystem, but it will have to play by the same rules as fiat money.
Institutional investors are maintaining confidence in digital assets despite a sharp market correction in October, with most planning to expand their exposure in the months ahead, according to new research.
Over 61% of institutions plan to increase their cryptocurrency investments, while 55% hold a bullish short-term outlook, Swiss crypto banking group Sygnum said in a report released on Tuesday. The survey covered 1,000 institutional investors globally.
Roughly 73% of surveyed institutions are investing in crypto due to expectations of higher future returns, despite the industry still recovering from the record $20 billion market crash at the beginning of October.
However, investor sentiment continues facing uncertainty due to delays in key market catalysts, including the Market Structure bill and the approval of more altcoin exchange-traded funds (ETFs).
While this uncertainty may carry over into 2026, Sygnum’s lead crypto asset ecosystem researcher, Lucas Schweiger, predicts a maturing digital asset market, where institutions seek diversified exposure with long-term growth expectations.
“The story of 2025 is one of measured risk, pending regulatory decisions and powerful demand catalysts against a backdrop of fiscal and geopolitical pressures,” he said, adding:
“But investors are now better informed. Discipline has tempered exuberance, but not conviction, in the market’s long-term growth trajectory.”
Despite October’s correction, “powerful demand catalysts” and institutional participation remained at an all-time high, with the growing ETF applications signaling more institutional demand, added Schweiger.
Crypto staking ETFs may be the next institutional catalyst
Crypto staking ETFs may present the next fundamental catalyst for institutional cryptocurrency demand.
Over 80% of the surveyed institutions expressed interest in crypto ETFs beyond Bitcoin (BTC) and Ether (ETH), while 70% stated that they would start investing or increase their investments if these ETFs offered staking rewards.
Staking means locking your tokens into a proof-of-stake (PoS) blockchain network for a predetermined period to secure the network and earn passive income in exchange.
Meanwhile, investors are now anticipating the end of the government shutdown, which could bring “bulk approvals” for altcoin ETFs from the US Securities and Exchange Commission, catalyzing the “next wave of institutional flows,” according to Sygnum.