Labour has defended the concept of new ‘respect orders’ for fighting anti-social behaviour – but admitted the details are still unclear.
In its manifesto, the party said it would give powers to “ban persistent adult offenders from town centres, which will stamp out issues such as public drinking and drug use”.
The Blair government previously spearheaded ASBOs – anti-social behaviour orders – now regarded by many as a failure.
Half were breached, two-thirds were breached more than once, and Labournever reached its target of reducing re-offending. They were scrapped in 2014.
Respect orders appear to have a very similar remit to ASBOs – and policing minister Dame Diana Johnson told Sky News the process of how they will work is still being developed.
She instead restated the general ambition of the new scheme.
“[They] will be about preventing those prolific offenders who are causing anti-social behaviour in our communities up and down the land from going into areas like town centres, or other public spaces like parks,” said Dame Diana.
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“There’ll be consequences for their actions,” she added. “It’s likely that will lead – if they are breached – into criminal sanctions.”
Dame Diana admitted the last Labour government didn’t get everything right on the issue, but said it “identified a problem and tried to deal with it” through more police on the streets and legislation to take people to court.
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Image: Dame Diana said a more joined-up approach is needed when dealing with anti-social behaviour
The MP for Hull North said the situation had become “a lot worse” under the Tories.
She told Sky News: “The focus that Labour had on neighbourhood policing, on providing the powers for policing, that wasn’t a priority for them for the last 14 years.”
Following criticism from the victims’ commissioner, Dame Diana said many who suffer from anti-social behaviour are still being let down by police and councils.
She said it was “depressing” that progress appeared not to have been made over the last few decades and that a more coordinated approach was vital, with better support for victims.
“I’ve had constituents say to me, ‘I’ve rung the council or I’ve rung the police, nobody comes and nothing is done’,” said Dame Diana.
“So I think it is about recognising we need to get much better at this joined-up approach to dealing with what’s going on in communities and tackling the individuals who are causing the problems to families.”
Image: Keir Starmer met police during a visit to an area affected by anti-social behaviour in Reading in January. Pic:PA
The new government has also promised to bring 13,000 more neighbourhood police officers, police community support officers (PCSOs) and special constables to the streets.
The minister denied that PCSOs are often ineffectual at combatting anti-social behaviour.
Dame Diana said their presence “walking the beat, engaging with local communities, talking to people, [is] a presence that is really welcomed”.
However, she couldn’t yet say how many of the promised 13,000 will be full-time police officers with comprehensive powers, and how many will be PCSOs.
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“I don’t know the exact figure yet,” she said. “But I obviously want to see that 13,000 on our streets as soon as possible,” said the minister.
“And it will be a mix, because we recognise that PCSOs have a very valuable role to play on the streets, in communities, as do the warranted officers as well.”
She said she had only been in the job two months and establishing the precise figures was one of her priorities.
Michael Selig, currently serving as chief counsel for the crypto task force at the US Securities and Exchange Commission, will face questioning from senators next week in a hearing to consider his nomination as the chair of the Commodity Futures Trading Commission.
On Tuesday, the US Senate Agriculture Committee updated its calendar to include Selig’s nomination hearing on Nov. 19. The notice came about two weeks after the SEC official confirmed on social media that he was US President Donald Trump’s next pick to chair the agency following the removal of Brian Quintenz.
Hearings for Quintenz, whom Trump nominated in February, were put on hold in July amid reports that Gemini co-founders Cameron and Tyler Winklevoss were pushing another candidate. Quintenz later released private texts between him and the Winklevoss twins, signaling that the Gemini co-founders were seeking certain assurances regarding enforcement actions at the CFTC.
Since September, acting CFTC Chair Caroline Pham has been the sole commissioner at the financial agency, expected to have five members. Pham said earlier this year that she intends to depart the CFTC after the Senate votes on a new chair, suggesting that, if confirmed, Selig could be the lone leadership voice at one of the US’s most significant financial agencies.
US Senate committee releases draft market structure bill
Whether Selig is confirmed or not, the CFTC is expected to face significant regulatory changes regarding digital assets following the potential passage of a market structure bill.
In July, the US House of Representatives passed the CLARITY Act. The bill, expected to establish clear roles and responsibilities for the SEC and CFTC over cryptocurrencies, awaits consideration in the Senate Agriculture Committee and Senate Banking Committee before potentially going to a full floor vote.
On Monday, Senate Republicans on the agriculture committee released a discussion draft of the market structure bill, moving the legislation forward for the first time in weeks amid a government shutdown and congressional recess.
The agriculture committee oversees laws affecting commodities and the regulators responsible for them, such as the CFTC, while the banking committee has jurisdiction over securities and oversees the SEC.
When FTX filed for bankruptcy on Nov. 11, 2022, it sent shockwaves throughout the crypto world, erasing billions in market liquidity and shattering confidence in centralized exchanges.
The dramatic collapse became a turning point for the digital asset industry, triggering calls for stronger transparency and reactions from regulators.
Three years after the exchange’s collapse, transparency initiatives across the crypto industry have proliferated. Proof-of-reserves attestations, audits and onchain analytics represented progress. Still, many of those reforms remain works in progress, and some of FTX’s creditors have yet to be made whole.
CEXs forced to adjust post FTX
Centralized exchanges bore the full impact of the post-FTX crisis of confidence. In the weeks following the bankruptcy, users withdrew more than $20 billion from major trading platforms, according to CoinGecko data.
In response, exchanges began publishing proof-of-reserves (PoR) attestations to demonstrate solvency. Binance released its first report on Nov. 10, 2022, followed by a Merkle Tree-based report a few days later that allowed users to verify its Bitcoin (BTC) holdings.
Around that time, OKX, Deribit and Crypto.com all published proofs-of-reserve amid fears of contagion and uncertainty surrounding crypto exchanges.
While these efforts offered some visibility into reserves, most relied on snapshots rather than continuous audits and often drew criticism from the crypto community.
One X user, David Gokhshtein, said at the time that publishing proof-of-reserves wasn’t enough. “When you aren’t showing the company’s liabilities, it means nothing,” he wrote.
Thomas Perfumo, Kraken’s global economist, told Cointelegraph that the “hard lessons of the past were never an indictment of crypto,” adding that the FTX debacle reinforced the “governance and integrity matter.”
Decentralized finance protocols also adapted following the collapse, pushing calls not only for transparency but also for self-custody as an essential safeguard for crypto users.
“We’ve seen a notable shift,” Eddie Zhang, president of dYdX Labs, told Cointelegraph. According to Zhang, DeFi now operates under stronger risk frameworks while “governance is becoming more sophisticated,” with systems that “withstand market shocks.”
Despite the industry’s transparency campaigns and recent regulations, such as the GENIUS Act in the United States and the European Union’s Markets in Crypto-Assets Regulation, some FTX creditors have yet to recover their losses.
According to a Nov. 9 update by Sunil Kavuri, a FTX creditor representative, the exchange has distributed $7.1 billion to creditors across three rounds so far.
In January, FTX announced the distribution of more than $1.2 billion in repayments to creditors who fulfilled certain requirements before Jan. 20. However, according to Sunil, only $454 million was effectively paid in the first round, going to small claimants with balances under $50,000.
A larger $5 billion payout followed on May 30, while the latest round took place on Sept. 30 and distributed another $1.6 billion to creditors. The next distribution is expected in January 2026, though it has not been confirmed by the FTX estate.
FTX’s total recovered assets were estimated at about $16.5 billion in October 2024.
According to Kavuri, because repayments are being made in US dollars rather than in-kind crypto assets, creditors are missing out on the market’s rebound since 2022.
Bitcoin, valued at $16,797 the day after FTX filed for bankruptcy, was trading around $103,000 on Tuesday.
Even with cash repayments exceeding the original claim amounts, real recovery rates could range from 9% to 46% when adjusted for current crypto prices, Kavuri said.
Former FTX CEO Sam Bankman-Fried is serving a 25-year prison sentence for fraud and conspiracy but has appealed his conviction, arguing that he was denied the presumption of innocence and barred from presenting evidence that FTX was, in fact, solvent in November 2022. His legal team appeared before the US Court of Appeals for the Second Circuit on Nov. 4.
Prediction market Polymarket currently assigns only a 4% probability that Bankman-Fried will receive a presidential pardon in 2025. Former Alameda Research CEO Caroline Ellison, who cooperated with prosecutors, began serving her sentence in late 2024 and is projected to be released in mid-2026.
SBF’s chances of being pardoned this year. Source: Polymarket
John Deaton, a lawyer who advocates for XRP holders and ran against Massachusetts Senator Elizabeth Warren in the 2024 US election, is making another bid for Congress.
At a Monday event in Worcester, Massachusetts, Deaton announced that he would run for US Senate again in 2026, this time attempting to unseat Democratic Senator Ed Markey. The lawyer ran as the Republican candidate in 2024, losing to Warren, a Democrat, by about 700,000 votes.
“I’m winning this time,” Deaton said in a campaign video aired at the Worcester event.
John Deaton announcing his second run for the US Senate in Worcester on Monday. Source: John Deaton
Deaton, who said he will run as a Republican to unseat Markey, will likely face competition on both sides of the aisle in 2026. His campaign announcement did not specifically focus on digital asset policy, but he and Warren had previously clashed over their respective views on crypto.
Deaton gained widespread recognition in the crypto industry by advocating on behalf of XRP (XRP) holders in Ripple Labs’ legal battle with the US Securities and Exchange Commission (SEC).
Seth Moulton, who represents Massachusetts’s 6th Congressional District in the US House of Representatives, is a Democratic contender in the 2026 race. Markey, who will be 80 next year, voted against the passage of the GENIUS stablecoin bill and has called out crypto mining for its “extravagant electricity use.”
Looking at a repeat of 2024?
“We’re never going to not be excited about someone advocating for [crypto] policy,” Mason Lynaugh, community director of Stand With Crypto, told Cointelegraph. “He’s going to have his own voters he’s going to cultivate that are very excited to see someone like him saying these types of things publicly.”
It’s unclear what Deaton’s chances would be in a US state that typically swings to the Democrats.
During his previous Senate campaign, cryptocurrency executives from Ripple, Gemini and Kraken supported Deaton’s run, contributing more than $360,000 in the first quarter of 2024.