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The minimum wage for those aged 21 years and over will rise by 6.7% to £12.21 – with pay for those aged 18 to 20 set to go up by 16.3% to £10 an hour.

Chancellor Rachel Reeves has confirmed the increases ahead of Wednesday’s budget, and they will take effect from April 2025.

The government says a full-time worker aged 21 and older will earn an extra £1,400 a year with the increase to what is known as the national living wage.

Budget latest: Chancellor’s praise leaves Hunt looking stunned

Increase in minimum wage

2024 2025
21 and over £11.44 £12.21
18 to 20 £8.60 £10
Under 18 and apprentice £6.40 £7.55

Minimum wage workers – those between 18 and 20 – are getting a greater proportional increase as part of government efforts to create in the future a single minimum rate for all adults instead of the current tiered system.

Their pay bump from £8.60 per hour to a flat £10 means a full-time worker will get an extra £2,500 in a year, the government says.

Ms Reeves said: “This government promised a genuine living wage for working people. This pay boost for millions of workers is a significant step towards delivering on that promise.”

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Deputy Prime Minister Angela Rayner said: “A proper day’s work deserves a proper day’s pay.

“Our changes will see a pay boost that will help millions of lower earners to cover the essentials as well as providing the biggest increase for 18-year-olds on record.”

The announcement of the increases, which are based on recommendations from the Low Pay Commission, comes ahead of a budget in which the government says it will ensure “working people don’t face higher taxes in their payslips”.

Sir Keir Starmer has confirmed there will be tax rises in the budget to prevent a “devastating return to austerity” and rebuild public services.

The Low Pay Commission is an independent body that advises the government, although its remit is set by the government of the day.

Chancellor of the Exchequer Rachel Reeves during a visit to St George's Hospital, Tooting, London, ahead of the Government's first budget on Wednesday. Picture date: Monday October 28, 2024.
Image:
Chancellor of the Exchequer Rachel Reeves during a visit to St George’s Hospital, Tooting, London, ahead of the government’s first budget. Pic: PA

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£2 bus fare to increase in 2025
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What’s likely to be in the budget?

The jump in the base wage rates and the expected increase to employers’ national insurance contributions in the budget have raised concerns about how businesses will be impacted with the new demands on their wage bills.

Many expect the national insurance rise to filter through to less take home pay for workers.

John Foster, chief policy and campaigns officer at the Confederation of British Industries, said the pressure of rising minimum wage rates would “make it increasingly difficult for firms to find the headroom to invest in the tech and innovation needed to boost productivity and deliver sustainable increases in wages”.

The increase to the national living wage is lower than over the past two years, with those aged 21+ seeing their wages go up by more than 9% each year.

However, the increase for younger members of the workforce is much greater.

Apprentices and those under 18 will be getting an 18% increase, with a pay bump from £6.40 to £7.55 an hour.

Business Secretary Jonathan Reynolds said: “Good work and fair wages are in the interest of British business as much as British workers.

“This government is changing people’s lives for the better because we know that investing in the workforce leads to better productivity, better resilience and ultimately a stronger economy primed for growth.”

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The government says the pay increases mean 3.5 million people will get a pay rise next year.

Baroness Philippa Stroud, the chair of the Low Pay Commission, said: “The government has been clear about their ambitions for the national minimum wage and its importance in supporting workers’ living standards.

“At the same time, employers have had to deal with the adult rate rising over 20% in two years, and the challenges that has created alongside other pressures to their cost base.

“It is our job to balance these considerations, ensuring the NLW provides a fair wage for the lowest-paid workers while taking account of economic factors.

“These rates secure a real-terms pay increase for the lowest-paid workers. Young workers will see substantial increases in their pay floor, making up some of the ground lost against the adult rate over time.”

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Paul Nowak, the general secretary of the Trades Union Congress, said: “The government is delivering on its promise to make work pay.

“This increase will make a real difference to the lowest paid in this country at a time when rents, bills and mortgages are high.”

He added that “young workers deserve to be paid the fair rate for the job”.

“But hundreds of thousands of young workers are currently suffering a huge pay penalty – because of an outdated and discriminatory system,” he said.

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Pakistan announces Bitcoin strategic reserve

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Pakistan announces Bitcoin strategic reserve

Pakistan announces Bitcoin strategic reserve

Bilal Bin Saqib, head of Pakistan’s crypto council, announced on May 28 that the country is moving to establish a strategic Bitcoin reserve.

Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Saqib said the government of Pakistan followed the United States’ lead in establishing a Bitcoin strategic reserve and is embracing pro-crypto regulatory policies. The government official told the audience:

“Today is a very historic day. Today, I announce the Pakistani government is setting up its own government-led Bitcoin Strategic Reserve, and we want to thank the United States of America again because we were inspired by them.”

The announcement represents a significant departure from the government of Pakistan’s previous stance on cryptocurrencies, holding that crypto would never be legal in the country.

Pakistan’s shift reflects the broader trend of nation-states adopting pro-crypto policies following the regulatory shift in Washington, DC under the President Donald Trump administration.

Government, Bitcoin Reserve, Bitcoin2025
Bilal Bin Saqib at the Bitcoin 2025 conference announcing a Bitcoin strategic reserve. Source: Cointelegraph

Related: Pakistan appoints special assistant to PM on blockchain and crypto

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JD Vance urges Bitcoin community to embrace politics

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JD Vance urges Bitcoin community to embrace politics

JD Vance urges Bitcoin community to embrace politics

United States Vice President JD Vance took the stage to deliver a keynote address at the Bitcoin 2025 conference in Las Vegas, Nevada, encouraging Bitcoiners to deepen their involvement in politics.

Vance highlighted the strategic and geopolitical importance of Bitcoin, emphasizing that the US should maintain leadership in the crypto industry to remain competitive in the age of digital finance. Vance told the audience:

“What happens in the world of politics, what happens in the world of bureaucracy, will affect even the most transformational and valuable technologies if we do not make the right decisions. The first thing that I would ask you, is to take the momentum of your political involvement in 2024 and carry it forward to 2026 and beyond.”

“Don’t ignore politics because I guarantee you, my friends, politics is not going to ignore this community, not now, and not in the future,” the vice president continued.

US Government, United States, Bitcoin Adoption, Bitcoin2025
Vice President JD Vance gives a keynote speech at Bitcoin 2025 in Las Vegas, Nevada. Source: Cointelegraph

Bitcoin continues to gain institutional legitimacy and has been elevated to an asset class with macroeconomic and geopolitical importance. Market analysts and Bitcoin advocates warn that the global race to acquire BTC is underway between sovereign powers.

Related: Crypto czar Sacks says US could possibly ‘acquire more Bitcoin’

Nation-state Bitcoin adoption

Bitcoin maximalists and market analysts argue that high-stakes game theory compels nation-states to adopt BTC due to the downside or opportunity cost of not adopting the scarce digital asset as sovereign competitors do.

This alleged nation-state’s fear of missing out (FOMO) was amplified by US President Donald Trump’s pro-crypto stance, including the creation of a Bitcoin strategic reserve and a crypto advisory council.

The regulatory shift in the United States prompted other governments to indicate a possible policy reset on cryptocurrencies and Bitcoin.

The government of India, for instance, is reconsidering its crypto policies in response to regulatory changes in the US. India’s economic affairs secretary, Ajay Seth, said that digital assets do not care about borders.

Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

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Bitcoin’s physical infrastructure is the industry’s most overlooked asset

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Bitcoin’s physical infrastructure is the industry’s most overlooked asset

Bitcoin’s physical infrastructure is the industry’s most overlooked asset

Opinion by: Scott Buchanan, chief operating officer of Bitcoin Depot

A new proposal to install Bitcoin ATMs in federal buildings highlights an important question: Can crypto truly go mainstream without a stronger physical presence? For years, the industry has focused on software and decentralization, but its reluctance to invest in real-world infrastructure is starting to show. Without physical access points, crypto risks becoming an exclusive, insiders-only system, rather than the open alternative it sets out to be.

Everyone loves to talk about decentralization. There’s a good reason behind this. It defines the movement, shapes the technology, and supports the vision of a better financial system. While the industry focuses on code and algorithms, it lacks something basic. A decentralized system that exists only online is not genuinely decentralized.

Physical infrastructure is the missing link

Bitcoin’s physical infrastructure is the missing link. Without tools like ATMs, kiosks and access points at traditional retail locations, crypto remains out of reach for millions. Decentralization is not just about removing intermediaries. True decentralization requires expanding access. Without real-world touchpoints, even the most advanced network becomes limited to a closed circle of insiders.

Recent: Arizona governor kills two crypto bills, cracks down on Bitcoin ATMs

For crypto to become mainstream, it must be easy to reach digitally and physically. That means showing up in places people already go and seamlessly integrating into people’s lives. Many groups in the American population still rely on cash or don’t have access to traditional banks. According to the latest Federal Deposit Insurance Corporation report, around 5.6 million American households don’t have a bank or savings account. Bitcoin ATMs give these users access without needing an app, a bank account or a crash course in blockchain. Most crypto tools today assume a level of financial fluency and infrastructure that millions simply do not have. The result is a digital-only ecosystem that locks out newcomers and widens the divide between early adopters and everyone else.

User-friendly screen in the right place

Physical infrastructure helps address this issue. A Bitcoin ATM in a grocery store or gas station is not just a convenience but a bridge to financial inclusion. It is an invitation to someone who has never bought crypto, telling them they can participate. No bank, no broker, just a user-friendly screen in a familiar place.

These machines also generate new economic activity. Local businesses benefit from increased foot traffic as the kiosks create passive revenue. For many communities, they provide access to a parallel financial system that was previously out of reach. This is a tangible example of crypto’s real-world utility. It is already happening, and it is measurable.

The crypto industry’s blind spot

The industry often treats physical infrastructure like an afterthought. The obsession with building new digital solutions has created a blind spot. Innovation without usability builds systems that serve the few but exclude the many. If someone can buy Bitcoin (BTC) at the same place they buy their morning coffee, that is when crypto stops feeling like an obscure digital asset and starts becoming part of everyday life.

As governments increase regulation, trusted and transparent interfaces will become more important. When operated within regulatory frameworks, Bitcoin ATMs offer a way to provide access between traditional finance and digital assets. They are familiar, easy to monitor and offer a more approachable entry point for the general public.

Like any financial tool, Bitcoin ATMs have drawn scrutiny, particularly in cases where bad actors use them. Rather than dismissing the machines themselves, we should focus on investing in better oversight, stronger consumer education and smarter regulation. The overwhelming majority of people who use Bitcoin ATMs do so for legitimate reasons: to send remittances, to move money securely or to access digital assets without traditional banking barriers. Building trust does not mean avoiding or dismantling physical access, but improving it.

The first time someone uses Bitcoin should not involve reading a white paper or navigating a tutorial. It should be as familiar as using an ATM or tapping a payment terminal. This is not an argument against innovation. Software and protocols will continue to evolve and play an important role. Physical infrastructure provides something those tools cannot: trust through presence. When people can see and use crypto in their neighborhood, at a store they already visit or in a format they already understand, it changes how they think about crypto and who it is for. 

According to Coin ATM Radar, there are over 30,000 Bitcoin ATMs in the US. It’s a meaningful start, but still only a small step toward widespread access. 

Crypto’s long-term success will depend not just on innovation but also on inclusion. That means building more than networks; it means building presence. When people can interact with crypto in the physical world, it stops being abstract and becomes usable. That is how digital finance becomes everyday finance.

Opinion by: Scott Buchanan, chief operating officer of Bitcoin Depot.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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