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Former deputy prime minister Sir Oliver Dowden has become the most senior ally of Rishi Sunak to be interviewed in the official investigation into betting on the date of the general election, Sky News understands.

He follows Mr Sunak’s former parliamentary aide Craig Williams and former Downing Street chief of staff Liam Booth-Smith in being questioned by the Gambling Commission, the statutory body that regulates betting in the UK.

Mr Sunak has not yet been interviewed, Sky News understands, though “numerous people” including Conservative Party officials have been.

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A source close to Sir Oliver said the former senior cabinet minister is not and was never under investigation himself.

It is understood Sir Oliver spoke to the police to assist with their inquiries as part of their investigation into others. This is said to have taken place in early summertime and the officers involved were part of the Gambling Commission.

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The inquiry – launched in June – is set to continue for another three to six months.

News of Sir Oliver’s interview, along with the seizing of “hundreds of documents” from Tory HQ by the commission, has emerged on the day the Conservative Party Conference opened in Birmingham.

Ironically, the Gambling Commission’s head office, on the fourth floor of Victoria Square House, Victoria Square, Birmingham, is just a half-mile, 10-minute walk from the ICC, where the Tory conference is taking place.

Sir Oliver was knighted and Mr Booth-Smith was awarded a peerage in the former prime minister’s dissolution honours, announced less than an hour before the polls closed on 4 July.

The commission is investigating whether bets were placed on a July election by people with inside knowledge – in breach of gambling rules – in the days leading up to Mr Sunak’s shock announcement of the election date on 22 May.

A source told Sky News: “The general election betting investigation is still ongoing. Hundreds of documents have been seized by the Gambling Commission from CCHQ.

“The Gambling Commission has also employed more ex-police as investigators to take the case forward. It’s expected the case will continue for three to six months.”

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Gambling scandal: Another bruise for the Tories?

Asked if Mr Sunak has been interviewed, the source said: “I don’t believe so. Numerous people have been interviewed, in and out of CCHQ.

“Gambling Commission investigators have made numerous visits to CCHQ. Oliver Dowden was interviewed.”

What is the election betting scandal?

The election date betting scandal began in June when Craig Williams, formerly MP for Montgomeryshire and Mr Sunak’s parliamentary private secretary, admitted he was being investigated by the Gambling Commission.

Mr Williams had placed a £100 bet on a July election at Ladbrokes in his constituency just days before Mr Sunak announced on 22 May that the election would be held on 4 July. Based on odds at the time, he would have won £500.

“I put a flutter on the General Election some weeks ago,” he said in a post on X on 13 June. “This has resulted in some routine inquiries and I confirm I will fully co-operate with these.

“I don’t want it to be a distraction from the campaign. I should have thought through how it looks.”

Rishi Sunak delivers a speech calling for a general election, outside Number 10 Downing Street
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The commission is investigating whether bets were placed on a July election. Pic: Reuters

Mr Williams, who admitted he had made a “huge error”, was dropped by the Tories as their candidate in the new seat of Montgomeryshire and Glyndwr but remained on the ballot paper, but was defeated, coming third behind Labour and Reform UK.

As the Gambling Commission proceeded, Tony Lee, the party’s director of campaigns, and his wife Laura Saunders, who was Tory candidate for Bristol North West, were placed under investigation.

In a statement on the day news of the investigation was first reported, Saunders said she would be “cooperating with the Gambling Commission”, while Lee took a leave of absence from his role.

Then Nick Mason, the party’s chief data officer, became the fourth Conservative candidate or official to be investigated. He took a leave of absence and denied any wrongdoing.

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In a bizarre twist, a Labour candidate in the election, Kevin Craig, was then suspended by his party after betting against himself and the Gambling Commission launched an investigation into him.

Mr Craig, candidate in Central Suffolk and North Ipswich, posted on X that he had “enjoyed the odd bet for fun” throughout his life.

“A few weeks ago when I thought I would never win this seat I put a bet on the Tories to win here with the intention of giving any winnings to local charities,” he said.

“While I did not place this bet with any prior knowledge of the outcome, this was a huge mistake, for which I apologise unreservedly.”

Craig Williams admitted to betting on the election date. Pic: PA
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Craig Williams admitted to betting on the election date. Pic: PA

Then on 27 June Sky News revealed that Mr Booth-Smith, then Mr Sunak’s most senior adviser in Downing Street, had been interviewed by senior Gambling Commission officials and questioned about who knew about the timing of the election.

Sources emphasised, however, that Mr Booth-Smith was not a suspect and was interviewed as a witness and was “asked for help”.

Sky News has approached Mr Dowden and the Conservative Party for comment.

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Sanctioned crypto exchange Garantex shifts millions as it reboots platform

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Sanctioned crypto exchange Garantex shifts millions as it reboots platform

Sanctioned crypto exchange Garantex shifts millions as it reboots platform

Shuttered crypto exchange Garantex is reportedly back under a new name after laundering millions in ruble-backed stablecoins and sending them to a freshly created exchange, according to a Swiss blockchain analytics company.  

Global Ledger claims the operators of the Russian exchange have shifted liquidity and customer deposits to Grinex, which they say is “Garantex’s full-fledged successor,” in a report released to X on March 19.

“We can confidently state that Grinex and Garantex are directly connected both onchain and offchain.”

“The movement of funds, including the systematic transfer of A7A5 liquidity, the use of one-time-use wallets, and the involvement of addresses previously associated with Garantex, provides clear onchain proof of their link,” the Global Ledger team said in the report.

After completing its investigation on March 13, Global Ledger says it had found onchain data showing Garantex laundered over $60 million worth of ruble-backed stablecoins called A7A5 and sent them to addresses associated with Grinex.

Sanctioned crypto exchange Garantex shifts millions as it reboots platform

Global Ledger claims Garantex has moved all its funds over to a newly launched exchange and is back in business. Source: Global Ledger

“In this case, the burning and subsequent minting process was used to launder funds from Garantex, allowing new coins to be minted from a system address with a clean history,” the team said.

A Garantex manager also reportedly told Global Ledger that customers have been visiting the exchange office in person and moving funds from Garantex to Grinex.

“Additionally, offchain indicators, such as transactional patterns, commentaries and exchange behaviors, further reinforce this connection,” it said.

The report also points to a description of Grinex on the Russian crypto tracking site CoinMarketRating, claiming that the owners of Garantex created it. The reports said this shows “Grinex is not an independent entity but rather a full-fledged successor to Garantex, continuing its financial operations despite the exchange’s official shutdown.”

Sanctioned crypto exchange Garantex shifts millions as it reboots platform

Source: Global Ledger

By March 14, the volume of incoming transactions on Grinex was nearly $30 million, according to Global Ledger. CoinMarketRating shows that the trade volume for the month is now over $68 million, with spot trading topping $2 million.

The US Department of the Treasury’s Office of Foreign Assets Control first hit Garantex with sanctions in April 2022 for allegedly money laundering violations.

Related: US, UK, Australia sanction Zservers for hosting crypto ransomware LockBit

On March 6, the US Department of Justice collaborated with authorities in Germany and Finland to freeze domains associated with Garantex, which they claim processed over $96 billion worth of criminal proceeds since launching in 2019.

Stablecoin operator Tether also froze $27 million in Tether (USDT), on March 6 which forced Garantex to halt all operations, including withdrawals.

Only a few days later, on March 12, officials with India’s Central Bureau of Investigation arrested Aleksej Bešciokov, who allegedly operated Garantex, on US charges that included conspiracy to commit money laundering. 

Magazine: How crypto laws are changing across the world in 2025

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New rules may stop Elon Musk from making unlimited donations to Reform UK

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Foreign donations to UK political parties set to be restricted, amid rumours Elon Musk is planning to give £80m to Reform

Ministers are drawing up plans restricting foreign donors from giving unlimited funds to UK political parties, Sky News understands.

Currently, political parties can accept donations from any company registered in the UK – and foreign donors can and have used these companies to make indirect contributions.

The rules allow for British companies to be used in this way even if they don’t make any money at all.

However, Sky News understands that officials are currently looking at restricting donations based on how much money a company makes – either using a profit or a share of revenue to calculate a potential cap for the amount each UK business can give.

The government says this is in line with its manifesto pledge to “protect democracy by strengthening the rules around donations to political parties”.

Senior government sources have told Sky News these changes are partially about Elon Musk.

Officials are said to be anxious about the rumoured donation of $100m (about £80m) that Musk has suggested he would make to Reform UK.

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Nigel Farage says ‘Musk is going to support Reform’

The government’s thinking is that the tech billionaire is likely to do this just before the next election, and they hope they can pass their Elections Bill – the legislation through which the donation loophole would be closed – through parliament before that happens.

The bill would enter parliament in the next session, but ministers have told MPs that they should expect an update to these plans within months.

Musk’s donation would be an astronomical amount in the context of British politics.

The sum would trump all political donations that have been made to any political party this year – and would inevitably make a big impact on campaigning.

Elon Musk is not on the electoral register and the British arm of his company X – X.AI London Limited – has not yet made any money.

Under the proposed changes, this avenue of donating money to Reform UK would not be possible.

Total donations to major parties in 2024
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Reform UK’s total received donations for 2024 would be considerably higher with £80m from Elon Musk

A government source said this is just one of the options on the table, adding that another change they are considering will mean enhanced due diligence checks on donations from unincorporated associations.

In exclusive polling, Sky News has found that any money given to parties by foreign donors is incredibly unpopular.

A total of 77% of respondents thought foreign nationals who are not registered to vote in the UK should not be allowed to donate to political parties, while only 7% thought they should be.

Even looking specifically at Reform UK voters, who would likely benefit from an Elon Musk donation, the percentage is roughly the same: 73% said they shouldn’t donate to British politics at all, while 7% said they should.

A total of 77% of respondents said foreign nationals should not be allowed to donate to UK political parties
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A total of 77% of respondents said foreign nationals should not be allowed to donate to UK political parties

There is a lot of cash swirling all around Westminster and foreign money can and does enter UK politics.

Transparency International found almost £1 in every £10 donated to parties and politicians came from unknown or dubious sources between 2001 and 2024.

Whatever the motivation, these changes could bring greater transparency to what’s behind any murky money swirling into Westminster.

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Crypto regulation must go through Congress for lasting change — Wiley Nickel

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Crypto regulation must go through Congress for lasting change — Wiley Nickel

Crypto regulation must go through Congress for lasting change — Wiley Nickel

Crypto regulations must be enacted through an act of Congress to become permanent and meaningful pieces of legislation, according to former Congressman Wiley Nickel.

In an exclusive video interview with Cointelegraph’s Turner Wright, Nickel urged bipartisan collaboration to push through comprehensive crypto regulations. The former Congressman added:

“I think it’s really important for anybody who cares about this issue to step back and realize that if you want lasting change in Washington, you must move legislation through Congress. Otherwise, if you’re talking about executive orders, it will just go back and forth.”

“You don’t want to have the mess that we saw just months ago with Gary Gensler’s SEC — you need to get legislation through Congress,” Nickel reiterated.

President Trump’s Jan. 23 executive order establishing the Working Group on Digital Assets, which also prohibited the development of a central bank digital currency (CBDC), and the order establishing a Bitcoin strategic reserve alongside a separate crypto stockpile, were both examples of executive actions that can be reversed at a later date.

Congress, Senate, Bitcoin Regulation, US Government, United States

Former Congressman Wiley Nickel is pictured sitting second from the left at the Blockworks Digital Asset Summit. Source: Cointelegraph

Related: Congress on track for stablecoin, market structure bills by August: Blockchain Association

Both chambers of Congress rush to push through meaningful legislation

Rep. Tom Emmer, the majority whip of the United States House of Representatives, reintroduced legislation banning a CBDC in the US on March 6.

Wyoming Senator Cynthia Lummis also reintroduced the Bitcoin Act in March, which builds upon an earlier bill of the same title but allows the US to purchase more than 1 million Bitcoin (BTC).

Congress, Senate, Bitcoin Regulation, US Government, United States

Senator Lummis’ Bitcoin Act of 2025. Source: Senator Cynthia Lummis

Rep. Byron Donalds recently announced that he would draft legislation to codify the Bitcoin strategic reserve into law — shielding President Trump’s original executive order from being overturned by a future administration.

On March 12, the House of Representatives repealed the IRS broker rule requiring decentralized finance platforms to report information to the Internal Revenue Service in a 292-131 vote.

Speaking at this year’s Blockworks Digital Asset Summit, Democrat Rep. Ro Khanna said that Congress should be able to pass comprehensive crypto regulation in 2025, including a stablecoin bill and a market structure bill.

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

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