Government accused of ‘abandoning’ plan to scrap no-fault evictions

Published

1 year ago

March 30, 2024

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The government has been accused of “abandoning” its pledge to ban no fault evictions by the time of the next general election.

Housing minister Jacob Young sent a letter to Conservative MPs dated 27 March which said the power under Section 21 of the Housing Act would remain in place until an assessment had been made of the legal system to see if it could handle the changes.

A Section 21 order allows landlords to evict tenants without providing a reason for doing so.

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The Conservative 2019 manifesto pledged to abolish the mechanism, and was planning to do so through the Renters Reform Bill.

There had already been indications the government intended to water down its promise from Housing Secretary Michael Gove, but this development marks the confirmation that legislation will be changed.

But the letter sent by Mr Young said: “The government has been clear that Section 21 will be abolished when the courts are ready, and is taking significant steps to deliver court improvement, including providing £1.2m for court digitisation.

“We will now, however, bring forward an amendment at Commons report [stage] to require the lord chancellor to publish an assessment on barriers to possession and the readiness of the courts in advance of abolishing Section 21 for existing tenancies.”

The campaign group, Renters Reform Coalition, said the changes announced this week represent “major concessions to landlords” – and said Mr Gove was “abandoning the promise” made to end Section 21s by the next election.

Mr Young also wrote that a new amendment would be proposed which would prevent tenants ending contracts in the first six months – although government is “considering exemptions” – like death or domestic abuse.

He said this “will ensure landlords can rely on a letting period that covers costs of finding tenants and making repairs between tenancies, and prevents tenants using rented properties as short-term lets”.

Changes have also been proposed to allow landlords renting to students to ensure they can match tenancy to the academic year.

Tom Darling, Campaign Manager at the Renters’ Reform Coalition, commented: “So now we see the price the government has paid in their Faustian bargain with the landlord lobby.

“Selling renters down the river with concessions that will put off the vast majority of renters from feeling the benefits of these reforms indefinitely, promising to reduce the burdens on landlords to meet licensing standards, and locking tenants in unsafe and unsuitable housing.

“The government’s flagship legislation to help renters is fast becoming a Landlord’s Charter – watch as landlord groups today declare victory now having exacted a significant toll on this policy in exchange for their support.”

Ben Beadle, the chief executive of the National Residential Landlords Association, said: “The government has a mandate to end Section 21 repossessions. Our focus has been on ensuring that the replacement system works, and is fair, to both tenants and responsible landlords.

“The changes being proposed would achieve this balance.

“Ministers now need to crack on to ensure the bill can proceed with the scrutiny it deserves.”

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Matthew Pennycook, Labour’s shadow housing minister, said: “Rishi Sunak and Michael Gove have chosen once again to put the interests of party management ahead of what is right for the British people.

“After years of delay, private renters have every right to be furious at the watering down of the vital protections the Tories promised them.”

Sky News has approached the Department for Levelling Up, Housing and Communities for comment.

Politics

SEC punts decisions on XRP, DOGE ETFs

Published

2 hours ago

April 29, 2025

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SEC punts decisions on XRP, DOGE ETFs

The US Securities and Exchange Commission (SEC) has postponed deciding on whether to greenlight two proposed cryptocurrency exchange-traded funds (ETFs) holding Dogecoin and XRP, filings show.

The US regulator has delayed its deadline for ruling on the proposed ETF listings until June, according to two filings reviewed by Cointelegraph.

The filings were responses to March requests from US exchanges NYSE Arca and Cboe BZX Exchange to list Bitwise’s Dogecoin (DOGE) ETF and Franklin Templeton’s XRP (XRP) ETF, respectively.

They came on the same day that Nasdaq, another US exchange, asked for permission to list a 21Shares Dogecoin ETF.

Dogecoin is the world’s most heavily traded memecoin, with a market capitalization of around $26 billion as of April 29, according to data from CoinGecko. XRP is the native token of the XRP Ledger blockchain network. It has a market capitalization of approximately $133 billion, CoinGecko data shows.

Deluge of filings

In 2025, the SEC has fielded requests to authorize dozens of altcoin ETFs for US listing. As of April 21, approximately 70 crypto ETFs were awaiting the SEC’s review.

Asset managers are proposing funds holding “[e]verything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Bloomberg analyst Eric Balchunas said in an April 21 post on the X platform.

The deluge of proposals comes as US President Donald Trump pushes the SEC to take a more accommodating stance toward cryptocurrencies.

However, analysts caution investor demand for altcoin ETFs may be tepid in comparison to funds holding core cryptocurrencies such as Bitcoin (BTC) and Ether (ETH).

“Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services,” Balchunas said.

“Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”

Although US exchanges are embracing crypto ETFs, they are also urging the SEC to take a tough regulatory posture toward digital assets. In an April 25 comment letter, Nasdaq encouraged the SEC to hold digital assets to the same compliance standards as securities if they constitute “stocks by any other name.”

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Nasdaq files to list 21Shares Dogecoin ETF

Published

5 hours ago

April 29, 2025

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Nasdaq files to list 21Shares Dogecoin ETF

The United States exchange Nasdaq has asked regulators for permission to list a 21Shares exchange-traded fund (ETF) holding the popular memcoin Dogecoin, regulatory filings show.

The move follows 21Shares’ April 10 filing of its initial proposal to launch its Dogecoin ETF, shortly after similar applications from rivals Bitwise and Grayscale. The asset manager has also sought regulators’ permission to list ETFs holding other cryptocurrencies, including Solana (SOL), XRP (XRP), and Polkadot (DOT).

Nasdaq must gain approval from the Securities and Exchange Commission (SEC) before it can list and trade the fund. The request amounts to a regulatory review process that could determine whether Dogecoin becomes accessible to a broader range of investors through an ETF structure.

Onslaught of altcoin ETFs

Fund issuers requested to list dozens of altcoin ETFs after US President Donald Trump instructed the SEC to take a friendlier stance toward cryptocurrencies after his second term began in January.

As of April 21, more than 70 crypto ETFs were awaiting the SEC’s review. The list includes alternative layer-1 (L1) native tokens, such as SOL and Sui (SUI), as well as memecoins such as Bonk (BONK) and Official Trump (TRUMP).

While exchanges such as Nasdaq seek to list more crypto ETFs, they are also pushing for firmer US regulatory oversight of digital assets. In an April 25 comment letter, Nasdaq urged the SEC to hold digital assets to the same regulatory standards as securities if they constitute “stocks by any other name.”

Dogecoin utility

Dogecoin (DOGE) is a popular memecoin with a market capitalization of nearly $26 billion as of April 29, according to CoinGecko.

It is distinct from most other memecoins because DOGE is the native token of the Dogecoin network.

The proof-of-work blockchain network is designed as a faster, cheaper alternative to Bitcoin (BTC) for peer-to-peer payments.

It processed more than 40,000 transactions in the past 24 hours, according to data from Bitinfocharts.com.

In September 2024, blockchain developers QED Protocol and Nexus tipped plans to launch a layer-2 (L2) scaling solution designed to bring smart contracts to Dogecoin.

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Politics

UK gov’t proposes crypto rules in response to scams

Published

8 hours ago

April 29, 2025

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<div>UK gov't proposes crypto rules in response to scams</div>

The United Kingdom’s Treasury and Chancellor of the Exchequer, Rachel Reeves, have proposed new crypto rules aimed at “support[ing] innovation while cracking down on fraudsters.”

In an April 29 notice, the UK government announced draft rules for cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), that would bring “crypto exchanges, dealers and agents” in line with regulations, as many residents were “exposed to risky firms and scams.” It cited discussions with US government officials, including a proposed US-UK cross-border sandbox from the Securities and Exchange Commission’s Hester Peirce.

“Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability,” said the notice. “The government will bring forward final cryptoasset legislation at the earliest opportunity, following engagement on the draft provisions with industry.”

Treasury and Reeves said the UK was committed to making the country a “global hub for digital asset technologies,” referencing the goals of the previous government under the Conservative Party. A 2023 consultation paper from Treasury proposed “bringing a wide range of cryptoasset activities” — including trading and issuing stablecoins — in line with UK regulations.

Praise from industry

In a statement shared with Cointelegraph, Ian Silvera, the associate director for the self-regulatory trade association CryptoUK, called the government announcement a “very much welcomed and a big victory” for crypto firms. However, he added that the industry could also benefit from regulatory clarity on liquid staking and DeFi.

“Though there has been good regulatory progress from the [Financial Conduct Authority], which published its crypto roadmap late last year, the UK government first committed to becoming a global crypto hub in 2022,” said Silvera. “Progress has been slow since then, but as the Chancellor has recognised herself the mainstreaming of the industry has continued, with now 12% of all UK adults owning some sort of crypto, up from 4% in 2021.”

The FCA plans to publish final rules on crypto sometime in 2026, setting the groundwork for the UK regulatory regime to go live. The roadmap to greater regulatory clarity in the UK could follow the European Union, which started to implement its Markets in Crypto-Assets (MiCA) framework in December.

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