Met Police chief defends officer who called campaigner ‘openly Jewish’ – as minister calls incident ‘unacceptable’

Published

1 year ago

April 23, 2024

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People should not be prevented from going about their day-to-day lives, a government minister has told Sky News, following a row over the police handling of a pro-Palestinian demonstration.

Footage showed a Metropolitan Police officer preventing campaigner Gideon Falter, the chief executive of the Campaign Against Antisemitism, from crossing a road near the march in London.

The officer said Mr Falter, who was wearing a kippah skull cap, was “openly Jewish” and that he was “worried about the reaction” to his presence at the demonstration.

Mr Falter has since called on Met Police chief Sir Mark Rowley to resign and accused the force of “victim-blaming” following the encounter.

Extended footage of the incident shows the officer accused Mr Falter of wanting to walk against the flow of the march and of being “disingenuous” in his claim he wanted to simply cross the road.

He offers the campaigner safe passage at a different location which is declined. As the tension rises and the officer raises his voice Mr Falter repeatedly tries to push past him.

Sir Mark has defended the actions of his officer during the incident on 13 April, saying they were “professional”, while admitting some of the words used during the exchange were “clumsy and offensive”.

Asked about the row, illegal migration minister Michael Tomlinson said he thought police had a “difficult job” at the protests but the incident was “unacceptable”.

He told Sky News’s Kay Burley: “I don’t think anyone of faith, whether you’re Jewish, whether you’re a Muslim, whether you’re a Christian, should be prevented from going about their day-to-day lives.”

Mr Falter has since said he will turn up at the next pro-Palestinian march and encouraged other Jews and allies to join him.

Asked whether police should stop him, Mr Tomlinson said: “I don’t want to see people stopped from going about their day-to-day lives in London.”

Rowley defends officer in protest row

Sir Mark defended the actions of his officer, who he said would not be sanctioned and would be allowed to police protests again.

In an interview with The Guardian newspaper, he said: “The sergeant at the scene clearly assessed that there was a risk of confrontation and was trying to help Mr Falter find a different route.

“I completely understand why the sergeant made this assessment. A couple of turns of phrase were clumsy and offensive… and we’ve apologised for that.

“The wider actions and intent of the officer were professional and in the best tradition of British police trying to prevent disorder.”

The Met Police commissioner said the officer was correct to stop Mr Falter after fearing there was danger of violence or disorder if direct contact with the pro-Palestinian marchers was made.

Met chief meets with home secretary

Sir Mark made the comments ahead of a meeting with Home Secretary James Cleverly on Monday.

After the meeting, Mr Cleverly said: “Jewish people will always have the right to be able to go about their daily lives safely and freely, in London and across the UK.

“Sir Mark has reassured me he will make this clear to all sections of the community as a matter of urgency. The Met’s focus now is rightly on reassurance, learning from what happened, and ensuring that Jewish people are safe and feel safe in London. I support them in that critical endeavour.”

Sir Mark also met with London’s mayor Sadiq Khan, who said he had “full confidence” in the commissioner – as well as with Jewish community groups.

Following the meeting, the Community Security Trust said the Met representatives repeated their apologies and agreed to “consult more closely” with the Jewish community “to ensure greater cultural sensitivity in future communications”.

The Met Police has apologised twice over the incident, issuing one initial statement and then saying sorry for its first apology, which had suggested opponents of pro-Palestinian marches “must know that their presence is provocative”.

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Australian court ruling could lead to $640M in Bitcoin tax refunds

Published

5 hours ago

May 19, 2025

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Australian court ruling could lead to 0M in Bitcoin tax refunds

A court decision in Australia could open the door to as much as $640 million in capital gains tax (CGT) refunds on Bitcoin transactions after a judge ruled that crypto should be treated as money rather than a taxable asset.

On May 19, the Australian Financial Review (AFR) reported that the decision arose within a criminal case involving federal police officer William Wheatley, who allegedly stole 81.6 Bitcoin (BTC) in 2019. At the time, the assets were worth roughly $492,000. At current market prices, the tokens are valued at more than $13 million.

In the case, Judge Michael O’Connell of Victoria ruled that Bitcoin qualifies as a form of money rather than property, likening the digital asset to Australian dollars rather than to shares, gold or foreign currency.

The interpretation could set a legal precedent, potentially placing Bitcoin transactions outside the scope of Australia’s current CGT regime.

New court ruling challenges Australian crypto tax laws

In an AFR interview, tax lawyer Adrian Cartland said the verdict “totally upends” the Australian Taxation Office’s (ATO) current position.

Since 2014, the ATO has classified crypto assets as CGT assets. This means that users must pay tax when selling or trading them. Under the ATO’s guidance, any disposal of Bitcoin, including selling it for fiat, exchanging it for another crypto or using it to purchase goods or services, constitutes a CGT event.

This framework has been the basis for taxing cryptocurrency transactions in Australia for over a decade. However, the recent ruling challenges the approach by suggesting that Bitcoin functions more like money than property. This potentially exempts it from CGT.

Tax refunds could reach $640 million

Cartland said it was held that Bitcoin is Australian money. “That is, it is not a CGT asset. Therefore, acquisitions and disposals of Bitcoin have no tax consequences,” the tax lawyer added.

If the ruling is upheld on the appeal, Cartland estimates that there could be potential tax refunds totalling 1 billion Australian dollars ($640 million).

However, while Cartland thinks there could be up to a billion in refunds, the ATO said there were no official figures that confirm the amount to be potentially refunded if the case changes how Bitcoin is taxed in Australia.

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Revolut eyes French license and $1.1B expansion amid EU growth

Published

6 hours ago

May 19, 2025

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Revolut eyes French license and .1B expansion amid EU growth

Revolut, a European neobank with crypto support, plans to invest more than 1 billion euro ($1.1 billion) in France and apply for a local banking license.

According to a May 19 Fortune report, Revolut representatives announced the initiative during the Choose France business summit hosted by President Emmanuel Macron in Paris. The London-based neobank also plans to set up its new European Union-serving headquarters in Paris, promising to invest 1 billion euro and hire at least 200 people within three years.

Revolut spokespeople also said that the firm is in the process of submitting an application to the French banking regulator Prudential Supervision and Resolution Authority. According to an anonymous source cited by Fortune, the regulator has been pushing the neobank to get a license to improve supervision due to its popularity in France.

Revolut currently employs about 300 people and serves five million customers in France. This makes the nation the neobank’s top European Union market.

Aiming for the stars

Revolut hopes to onboard 10 million users by the end of next year and then double that number by 2030. The firm already offers loans, trading and cryptocurrency support in its mobile-first banking platform.

The neobank has seen rapid growth ever since its founding in 2015. The company recently received a $45 billion valuation and reportedly served over 55 million customers as of late May.

Revolut’s 2024 annual report release shows that the firm’s 2024 revenue was 3.1 billion British pounds ($4 billion). A recent Financial News article also puts the company’s headcount at 10,133 employees as of Dec. 31, 2024.

An increasingly regulated institution

Revolut obtained its UK banking license in late July 2024, where 11 million of its customers are located. Now, the neobank is aggressively looking to obtain similar permits across other jurisdictions, with 10 applications underway.

Revolut received the Prepaid Payment Instruments license from India’s central bank earlier this month. This license allows the bank to offer multi-currency forex cards and cross-border remittance services in India.

EU-based Revolut customers now leverage its Lithuania operations. The firm received a banking license in Lithuania at the end of 2018, enabling it to serve customers across the European Economic Area better.

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Dubai regulator sets compliance deadline for updated crypto rules

Published

7 hours ago

May 19, 2025

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Dubai regulator sets compliance deadline for updated crypto rules

Dubai’s crypto regulator has given licensed digital asset companies until June 19 to comply with its updated activity-based Rulebooks to enhance market integrity and risk oversight.

On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) announced that it had released Version 2.0 of the Rulebooks.

The regulator said it had strengthened controls around margin trading and token distribution services, harmonised compliance requirements across all licensed activities and given clearer definitions for collateral wallet arrangements.

VARA’s team will engage with licensed entities and expects the companies to comply with the updated rules after a 30-day transition period.

“In line with global regulatory best practices, a 30-day transition period has been granted to all impacted virtual asset service providers [VASPs], with full compliance required by 19 June 2025,” VARA wrote.

VARA enhances supervisory mechanisms

VARA highlighted that it had enhanced supervisory mechanisms across several regulated activities. This includes advisory, broker-dealer, custody, exchange, lending and borrowing, virtual asset (VA) management and investment, and VA transfer and settlement services.

A VARA spokesperson told Cointelegraph that the updates will bring consistency across all activity-based rules defining core operational terms. The spokesperson gave examples of terms like “client assets,” “qualified custodians,” and “collateral requirements” as some of the terms more consistently defined in the update.

The update also aligned risk management and disclosure obligations, where activities overlap, in areas like brokerage, custody and exchange.

“The aim was to reduce ambiguity and help VASPs navigate cross-functional compliance more easily,” VARA told Cointelegraph.

Dubai regulator tightens leverage thresholds for margin trading

As for margin trading, the VARA spokesperson said they tightened leverage thresholds, mandated clearer collateralisation standards, and enhanced the monitoring obligations for VASPs offering this feature.

Margin trading allows traders to control large positions with smaller amounts of capital. It amplifies both gains and losses. Tightening the leverage traders use helps limit the risks of widespread liquidations in a market downturn.

The crypto regulator introduced a new section on token distribution that sets out licensing prerequisites, investor protections and marketing restrictions. The spokesperson emphasized the marketing restrictions, especially for “retail-facing offers.”

“It’s about aligning with global conduct expectations and closing observed regulatory gaps,” the VARA spokesperson said.