Scotland’s new first minister has told Sky News that the controversial gender recognition reforms “cannot be implemented.”
John Swinney, who became first minister this week, has faced questions over his stance on gender recognition after MSPs voted in 2022 to pass a bill to make it simpler for people to change their gender without having to obtain a medical diagnosis.
The UK government blocked the bill from being made into law and the Supreme Court rejected a request by the Scottish government for a judicial review.
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Asked if he would be fighting to push the bill through, Mr Swinney told Sky News: “The reality of the situation we face is that the Supreme Court has said that we can’t legislate in that area. We can’t take forward that legislation.”
His predecessor Humza Yousaf had previously suggested he wanted to work with the UK Labour Party to amend the laws ahead of the general election.
Scottish ministers said the scheme, dubbed self-ID, was aimed at making life easier for the trans community but women’s campaigners said it threatened their rights.
Mr Swinney made former leadership contestant Kate Forbes his deputy this week, which has caused some consternation within the party as she previously said she would have voted against gay marriage but would not seek to overturn the law if she became first minister.
But Mr Swinney sought to reassure the LGBT community, saying he had voted for gay marriage and introduced inclusive education into schools when he was education secretary.
Kate Forbes said she would have voted against gay marriage
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Mr Swinney said: “I think what’s the most important thing that I can see is that to LGBT people in our society, the Scottish government is on their side.
“We have been on their side and we will be on their side in the years to come.”
A Scottish government spokeswoman said: “The Gender Recognition Reform Bill was passed by the Scottish Parliament.
“If the UK government lifted its legal block – the section 35 order – it would become law.
“The problem is that the current UK government has said they will not.
“The Scottish government’s position is simple – UK government should lift their section 35 order.
“They have made clear however that they will not, and until they do, it is simply not legal to implement the legislation.”
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Independence ‘can be achieved in five years’
Mr Swinney also said he believes Scotland could split from the rest of the UK in five years thanks to Brexit and the cost of living crisis.
He told Sky News: “I think independence can be delivered in that timescale because the arguments for it are compelling.
“If we look at two of the biggest issues we face as a country in Scotland; the effect of the cost of living and the implications of Brexit.
“Both of those are major strategic factors that are doing severe economic and social damage to Scotland because of bad decisions taken in Westminster.
“And independence is the answer to that.”
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‘Independence can be delivered in five years’
He said Scotland was “forced out of the European Union against our will” as a majority in the country voted to remain.
“If we’d been an independent country, we will be able to take part in Europe and not have all the damaging disruption that we faced,” he added.
Mr Swinney was deputy first minister under Nicola Sturgeon, who was leader of the SNP and first minister from 2014 to 2023 when she stepped down.
Ms Sturgeon wanted to use the next general election as a de facto second referendum on independence after the Supreme Court ruled a vote cannot be held without the UK government’s consent – but it is yet to be seen what Mr Swinney favours.
Despite the ongoing market meltdown on US trade tariffs, executives at major cryptocurrency firms Messari and Sygnum are bullish on institutional Bitcoin adoption later in 2025.
Speaking on a panel at Paris Blockchain Week on April 8, Messari CEO Eric Turner and Sygnum Bank co-founder Thomas Eichenberger said they expect a significant shift in the banking sector’s involvement with crypto in the second half of the year.
According to the executives, the global banking push into Bitcoin (BTC) services has great potential to happen in the second half of 2025 as regulators embrace crypto, including stablecoins and crypto services by banks.
“I think we’re probably looking at a muted Q2, but I’m really excited for Q3 and Q4,” Messari’s Turner said during the panel discussion moderated by Cointelegraph CEO Yana Prikhodchenko, forecasting “really interesting” things coming to the crypto market in 2025.
Crypto adoption is not just about Trump
While some investors focus on the pro-crypto stance of US President Donald Trump, Turner emphasized that broader regulatory momentum is what matters most.
“When you look at the potential of having market structure regulation in the US, stablecoin regulation, and just the fact that across the board, not just President Trump himself, but the SEC and all these regulatory industries are really embracing crypto,” Turner said.
Paris Blockchain Week’s panel with Cointelegraph CEO Yana Prikhodchenko, Bancor co-founder Eyal Hertzog, Sygnum co-founder Thomas Eichenberger, Messari CEO Eric Turner, AWS fintech leader Alex Matsuo and Near chief operating officer Chris Donovan. Source: Cointelegraph
Sygnum co-founder Thomas Eichenberger said international banks with US branches are also poised to enter the market once the legal landscape becomes clearer:
“I think it’s a matter of fact that US banks are preparing to be able to offer crypto custody and at least crypto spot trading services anytime soon.”
“I think by then I would agree with you, Eric,” he continued, projecting a continued phase of market uncertainty until the US establishes a clear regulatory framework.
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Banks are no longer afraid of Bitcoin regulators
With the establishment of clear crypto rules for banks in the US, there will be a rush for crypto services by large international banks that are incorporated outside of the US but have a US-based presence, Eichenberger said.
“Some of them may have had their strategic plans in their cupboard to offer crypto-related services, but have been afraid that at some point they will be gone after by any of the US regulatory authorities,” he said, adding:
“Now I think there’s no one to be afraid of anymore in terms of regulatory authorities worldwide. So I think many of the large international banks will launch this year.”
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Global trade tensions triggered by US President Donald Trump’s sweeping tariff measures may come to an end with a potential deal with China as investors remain concerned about escalation from both sides.
Trump’s April 2 announcement of reciprocal import tariffs sent shockwaves through global equity and crypto markets. The measures include a 10% baseline tariff on all imported goods, effective April 5, with higher levies — such as a 34% tariff on Chinese imports — set to begin on April 9.
However, the tariff negotiations may only be “posturing” for the US to reach an agreement with China, according to Raoul Pal, founder and CEO of Global Macro Investor.
“In the end, almost all the other tariff negotiations and rhetoric are all about getting China to agree a deal,” Pal wrote in an April 8 X post, adding:
“That is the big prize and both China and the US understand it and need it. Everything else is negotiation posturing. China needs a weaker $ and the US needs tariffs.”
Source: Raoul Pal
“Also, the US is trying to shut down China tariff arbitrage using other channels such as Mexico or Vietnam,” Pal said.
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China retaliates with new tariffs
Considering China’s latest retaliatory measures, a resolution remains unlikely in the short term.
In response to US tariffs, China imposed a 34% tariff on all US imports effective April 10, media outlet Xinhua News reported on April 4. China’s foreign ministry also vowed to “fight till the end” against Trump’s tariffs, which it called “bullying” by the world’s largest economy.
China overtakes the US in global trade. Source: Econovis
China overtook the US in 2012 to become the world’s largest trading nation by the total value of exports and imports, surpassing $4 trillion in goods trade that year, according to The Guardian.
Crypto markets watch trade outcome closely
As the trade dispute continues to evolve, analysts say a potential agreement between the two global superpowers could serve as a key catalyst for recovery in digital asset markets.
Crypto markets have a 70% chance to bottom by June 2025 before recovering, Nansen analysts predicted.
Related: Crypto market bottom likely by June despite tariff fears: Finance Redefined
Investor appetite for risk assets such as Bitcoin will depend on the global tariff responses from other countries, according to Nicolai Sondergaard, a research analyst at Nansen.
“We have reached somewhat of a local bottom in regard to tariffs and the impact on prices,” the analyst said during Cointelegraph’s Chainreaction live show on X, adding:
“Trump came out guns blazing, and we’ve mostly seen the worst from the US side, so we’ll see if other countries are willing to drop some of the tariffs because it’s very likely the US will do the same.”
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