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Rishi Sunak has said Nigel Farage’s comments about the West provoking Vladimir Putin were “completely wrong” and play into the Russian dictator’s hands.

The Reform UK leader is facing a backlash from across the political spectrum for saying that the expansion of NATO and the EU “provoked” Moscow’s invasion of Ukraine.

Follow the latest updates on the general election campaign

Mr Sunak told reporters: “What he said was completely wrong and only plays into Putin’s hands.

“This is a man who deployed nerve agents on the streets of Britain, is doing deals with countries like North Korea

“And this kind of appeasement is dangerous for Britain’s security, the security of our allies that rely on us and only emboldens Putin further.”

In an interview with BBC Panorama, Mr Farage said he had been warning since the fall of the Berlin Wall that there would be a war in Ukraine due to the “ever-eastward expansion of NATO and the European Union”.

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Farage: NATO expansion ‘provoked’ Ukraine war

He said this was giving Mr Putin a reason to tell the Russian people “they’re coming for us again” and go to war.

The Reform leader confirmed his belief the West “provoked” the conflict – but said it was “of course” the Russian president’s “fault”.

Asked about comments he made in 2014 stating that Mr Putin was the statesman he most admired, Mr Farage said: “I said I disliked him as a person, but I admired him as a political operator because he’s managed to take control of running Russia.”

Mr Putin has served continuously as either Russian president or prime minister since 1999, with elections which have been described as “rigged”.

Mr Sunak is the latest Conservative figure to condemn the comments, after Home Secretary James Cleverly said Mr Farage was “echoing Putin’s vile justification for the brutal invasion of Ukraine”.

Meanwhile, former defence secretary Ben Wallace branded the Reform UK leader a “pub bore…who often says if ‘I was running the country’ and presents very simplistic answers to actually I am afraid in the 21st century complex problems”.

Read more:
Has Farage made first mistake of his campaign?
Who are Reform UK?

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Farage called out over comments

Mr Farage has so far enjoyed a relatively smooth campaign, with his party’s popularity increasing and even overtaking the Conservatives in some polls.

Senior Tories, some of whom want Mr Farage to join them to counter the threat of Reform UK, have until now refrained from the sort of personal attacks they have launched at Sir Keir Starmer.

The most that cabinet ministers have said against him up to now is that a vote for him is a vote to put Labour in Downing Street with a “super-majority”.

Labour leader Sir Keir condemned Mr Farage’s remarks, calling them “disgraceful”.

“I’ve always been clear that Putin bears responsibility, sole responsibility for the Russian aggression in Ukraine”, he said.

“Anybody who wants to stand to be a representative in our parliament should be really clear that whether it’s Russian aggression on the battlefield or online, that we stand against that aggression.”

Lib Dem Leader Ed Davey said: “It is Putin and Russia who are to blame for this, no one else.”

He added: “I don’t share any values with Nigel Farage.”

Following the backlash, Mr Farage posted a late-night tweet appearing to clarify his comments.

The former Brexit Party leader wrote: “I am one of the few figures that have been consistent & honest about the war with Russia. Putin was wrong to invade a sovereign nation, and the EU was wrong to expand eastward.

“The sooner we realise this, the closer we will be to ending the war and delivering peace.”

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The Securities and Exchange Commission publishes crypto custody guide

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The Securities and Exchange Commission publishes crypto custody guide

The United States Securities and Exchange Commission (SEC) published a crypto wallet and custody guide investor bulletin on Friday, outlining best practices and common risks of different forms of crypto storage for the investing public.

The SEC’s bulletin lists the benefits and risks of different methods of crypto custody, including self-custody versus allowing a third-party to hold digital assets on behalf of the investor.

If investors choose third-party custody, they should understand the custodian’s policies, including whether it “rehypothecates” the assets held in custody by lending them out or if the service provider is commingling client assets in a single pool instead of holding the crypto in segregated customer accounts.

Bitcoin Wallet, Paper Wallet, Wallet, SEC, United States, Mobile Wallet, Hot wallet, Self Custody
The Bitcoin supply broken down by the type of custodial arrangement. Source: River

Crypto wallet types were also outlined in the SEC guide, which broke down the pros and cons of hot wallets, which are connected to the internet, and offline storage in cold wallets.

Hot wallets carry the risk of hacking and other cybersecurity threats, according to the SEC, while cold wallets carry the risk of permanent loss if the offline storage fails, a storage device is stolen, or the private keys are compromised. 

The SEC’s crypto custody guide highlights the sweeping regulatory change at the agency, which was hostile to digital assets and the crypto industry under former SEC Chairman Gary Gensler’s leadership.