General Election 2024: British accountability and tackling hate crime – the wish list of Sikh voters in key target Labour areas

Published

10 months ago

June 15, 2024

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They may not be as numerous as Muslim voters, and there are no rebel candidates stealing them away from Labour over conflicts abroad, but Punjabis are a specific electorate with their own concerns, and some of their communities happen to be highly concentrated in key target seats for Sir Keir Starmer’s party.

The Sikh Federation UK estimates their community could have an impact in up to 80 constituencies, and so we’ve taken our parliamentary people’s bench to two seats in South East England, to find out what Sikh voters are looking for in the next government.

First, we visit a Punjabi sporting event – the ancient game of Kabaddi.

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Described as Sikh sumo wrestling, and played in teams, it originated as a military training exercise on how to take captives and win ground.

In a circular arena, teams of well-stacked men send players to “raid” the opposition territory and touch their opponents without being pinned down or shoved out of the circle.

The event is taking place in the constituency of Ealing Southall, known as The Little Punjab.

Fuel, shopping and rent

Sikhs make up 30% of the population here but spectators come to the event from across the country – and sharing their thoughts, seated on our parliamentary bench at the edge of the kabaddi pitch, they expressed views similar to those we’ve heard elsewhere.

“Fuel, shopping, rents, it just goes up and up,” says Kabaddi referee Sucha Singh Thind. “Every government comes in. They promise a lot of things, ‘we do this, we do that’, but nothing happens in the end.”

Southall resident Arshpreet Singh Randhawa adds: “The current cost of living as we all know is through the roof and it is becoming extremely difficult to live and sustain, evident that with the amount of homeless on the streets.”

Ealing Southall is a safe Labour seat, but our next stop, Gravesham in Kent, is more of a knife edge.

Home to the largest Gurdwara in the UK, it is currently held by the Conservatives, but is a Labour target.

Here, 8% of the electorate is Sikh, and with a recent survey showing they are inclined to vote Labour and are also likely to turn out in large numbers, they could tip the balance over who wins here.

Accountability for the past

Outside their place of worship, a giant banner commemorates the 40th anniversary of the Sikh massacre at the Golden Temple at Amritsar in India.

Classified documents released in 2014 raised questions over the involvement of the British government and the SAS in events leading up to the killings. Sikhs at the Gurdwara in Gravesend said they want politicians to commit to a public inquiry into British actions.

Dabinderjit Singh, from the Sikh Federation UK, says: “We’re marking the 40th anniversary of 1984, and I remember 10 years ago when those papers came out, we just thought, why did our government advise on attacking a holy place?

“It’s something that changed my life and changed the lives of many people.”

Even younger Sikhs at the Gurdwara, who weren’t born in 1984, tell us this is an important issue for them.

Jeremy Corbyn’s Labour committed to a judge-led inquiry, but it’s not clear what Labour will do under Sir Keir.

It’s not a manifesto pledge, however, his deputy Angela Rayner tweeted on 1 June.

“We mark the 40th anniversary of the rain of the Golden Temple,” she wrote, adding that Labour stands with the Sikh community in calling for an inquiry into the historic role Britain played.

The latest survey of Sikh voting intentions shows 43% Labour and 20% for the Conservatives. But many are still undecided.

Mr Singh adds: “The surveys we’ve done suggest 85% of Sikhs actually come out and vote. There are probably one million Sikh voters.

“Sikhs exist in every single constituency in the UK. And on top of that, we have towns and cities where there are 20 to 25 thousand Sikhs, and therefore the Sikh vote really matters on the 4th of July.”

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Tackling hate crime

Another issue, raised by several worshipers, is tackling hate crime specific to Sikhs.

Jagjit Singh Dhaliwal, a volunteer at the Gurdwara, says: “Whereas Islamophobia, antisemitism are widely recognised for specific hate crime, nothing exists for the Sikhs, but because of our dress we can become targets for hate crime exactly the same as Muslims do.

“That needs to be recognised so we can start taking some action to eradicate that.”

Again, the community have expectations that Labour may address things that the Conservatives have not, but there is nothing down in print in Labour’s manifesto.

The Sikhs pride themselves on being humble, shrewd and community-minded – organising outreach projects and free food for the homeless in every Gurdwara in the country.

“We represent the nation very well. We hold its core values and as a community we are very close-knit,” says student Rickvir Singh Randhawa.

Their wish list from politicians is not hugely expensive and, with Labour’s Muslim votes potentially depleted in certain areas over their stance on the events in Gaza, Sikhs believe their vote could become even more crucial in certain constituencies.

Politics

Court grants 60-day pause of SEC, Ripple appeals case

Published

2 hours ago

April 16, 2025

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Court grants 60-day pause of SEC, Ripple appeals case

An appellate court has granted a joint request from Ripple Labs and the Securities and Exchange Commission (SEC) to pause an appeal in a 2020 SEC case against Ripple amid settlement negotiations.

In an April 16 filing in the US Court of Appeals for the Second Circuit, the court approved a joint SEC-Ripple motion to hold the appeal in abeyance — temporarily pausing the case — for 60 days. As part of the order, the SEC is expected to file a status report by June 15.

Law, Ripple, SEC, Court — *April 16 order approving a motion to hold an appeal in abeyance. Source: PACER*

The SEC’s case against Ripple and its executives, filed in December 2020, was expected to begin winding down after Ripple CEO Brad Garlinghouse announced on March 19 that the commission would be dropping its appeal against the blockchain firm. A federal court found Ripple liable for $125 million in an August ruling, resulting in both the SEC and blockchain firm filing an appeal and cross-appeal, respectively.

However, once US President Donald Trump took office and leadership of the SEC moved from former chair Gary Gensler to acting chair Mark Uyeda, the commission began dropping multiple enforcement cases against crypto firms in a seeming political shift. Ripple pledged $5 million in XRP to Trump’s inauguration fund, and Garlinghouse and chief legal officer Stuart Alderoty attended events supporting the US president.

Despite support for the end of the case coming from both Ripple and the SEC, the August 2024 judgment and appellate cases leave some legal entanglements. Alderoty said in March that Ripple would drop its cross-appeal with the SEC and receive a roughly $75 million refund from the lower court judgment. It’s unclear what else may result from negotiations over a settlement in appellate court.

New leadership at SEC incoming

Acting chair Uyeda is expected to step down following the US Senate confirming Paul Atkins as SEC chair on April 9.

During his confirmation hearings, lawmakers questioned Atkins about his ties to crypto, which could create conflicts of interest in his role regulating the industry. In financial disclosures, Atkins stated he had millions of dollars in assets through stakes in crypto firms, including Securitize, Pontoro and Patomak.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

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Italy finance minister warns US stablecoins pose bigger threat than tariffs

Published

10 hours ago

April 16, 2025

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Italy finance minister warns US stablecoins pose bigger threat than tariffs

Italy’s minister of economy and finance warned that US stablecoin policies are more concerning than President Donald Trump’s tariffs, citing the potential for these crypto assets to undermine the euro’s dominance in cross-border payments.

Speaking at an event in Milan, Giancarlo Giorgetti said that while trade tariffs dominate headlines, new US policies on dollar-backed stablecoins present an “even more dangerous” threat to European financial stability, according to a Reuters report.

US stablecoins allow users to invest in a widely accepted method for cross-border payments without opening a US bank account, Giorgetti said. He warned that the growing appeal of US stablecoins to Europeans should not be underestimated.

Giorgetti urged European Union lawmakers to take more steps to boost the euro’s position as an international currency. He added that the digital euro under development by the European Central Bank (ECB) will be essential to minimize the need for Europeans to resort to foreign solutions.

US lawmakers advance stablecoin bills

Presently, stablecoin regulation in the US remains fragmented. Instead of a unified framework, multiple agencies apply existing laws to regulate stablecoins. However, lawmakers are working to implement changes, with several pieces of stablecoin legislation progressing.

On April 2, the US House Financial Services Committee passed the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act. The bill is now headed to the House floor for a full vote.

The bill was introduced on Feb. 6 by Committee Chair French Hill and the Digital Assets Subcommittee Chair Bryan Steil. It would ensure that stablecoin issuers provide information on their businesses, including how their tokens are backed.

In addition, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act establishes rules that require issuers to maintain reserves backed one-to-one, comply with Anti-Money Laundering (AML) laws, protect consumers and boost dollar dominance in the global economy.

The GENIUS Act still requires approval by both chambers of Congress and a presidential signature before becoming law.

ECB exec renews digital euro push

Apart from Giorgetti, ECB Executive Board member Piero Cipollone also urged European lawmakers to intensify their efforts to combat dollar-backed stablecoin dominance in Europe. On April 8, Cipollone wrote an article expressing concerns about the growing popularity of US stablecoins.

The official suggested launching a central bank digital currency to combat this threat to the euro. He said this would aid in preserving the monetary sovereignty of the eurozone.

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OKX reenters US market following $505M DOJ settlement

Published

11 hours ago

April 16, 2025

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OKX reenters US market following 5M DOJ settlement

Seychelles-based cryptocurrency exchange OKX announced that it is reentering the US market.

According to an April 16 blog post, OKX will return to the United States market along with the appointment of former Barclays director Roshan Robert as its US CEO. Robert said in the post:

“Today, I’m thrilled to announce the launch of OKX’s centralized crypto exchange and OKX Wallet in the United States, alongside the establishment of our regional headquarters in San Jose, California.“

All existing Okcoin users will be migrated to the new platform, which Robert said will lead to a better overall experience. The promised improvements include deeper liquidity, lower fees and advanced trading tools.

OKX reenters US market following $505M DOJ settlement — *Source:* *OKX*

Step by step

OKX will not roll out the upgrade in one shot. Instead, the new platform will take a phased approach to onboard new customers. The exchange plans to follow the cautious approach with a nationwide launch later in 2025.

“We’re beginning with a phased rollout for new customers to ensure a smooth and secure onboarding process, with a broader nationwide launch planned later this year,“ Robert said.

OKX also promised integrations with local banks and support for major assets, including Bitcoin (BTC), Ether (ETH), USDt (USDT) and USDC (USDC). Robert noted that the company maintains a global proof of reserves for all its assets, which is published monthly by cybersecurity firm Hacken.

Hacken had not responded to Cointelegraph’s request for comment by publication time.

In addition to its trading platform, the firm is also rolling out OKX Wallet to its US-based customers. The wallet supports 130 blockchains and features a decentralized exchange (DEX) aggregator, allowing access to over 10 million tokens on platforms including Ethereum, Solana and Base.

OKX gets out of US troubles

The report follows OKX hiring former New York Governor Andrew Cuomo to advise it over a federal probe that resulted in the firm pleading guilty to several violations and agreeing to pay $505 million in fines and penalties.

The exchange admitted on Feb. 24 to operating an unlicensed money-transmitting business in violation of US Anti-Money Laundering laws. As a consequence, OKX agreed to pay $84 million worth of penalties while forfeiting $421 million worth of fees earned from primarily institutional clients.

After the investigation concluded, OKX said it would seek out a compliance consultant to remedy the problems revealed by the federal probe and improve its compliance efforts. OKX’s CEO Star Xu wrote in a Feb. 24 X post: