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The UK FCA previously said that almost 90% of annual crypto license applications had failed as of September.

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Sue Gray, Sir Keir Starmer’s former chief of staff, nominated for life peerage

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Sir Keir Starmer has nominated his former top adviser Sue Gray for a life peerage.

Ms Gray, whose report into the partygate scandal contributed to the downfall of former prime minister Boris Johnson, is among several new Labour peerages that have been announced.

The former civil servant left her role as Sir Keir’s chief of staff in October following an internal power struggle in Downing Street.

She was then appointed to a newly created nations and regions position within Number 10, however, it was confirmed in November that she would not be taking up the role.

Back in 2022, Labour unveiled proposals to abolish House of Lords and to replace it with a “reformed upper chamber”.

However, ahead of the general election this year, the plans were scaled back – with Sir Keir instead pledging to remove the 92 hereditary peers and to introduce an age cap of 80.

It is understood Sir Keir has made the nominations in an attempt to tilt the balance towards Labour in the second chamber.

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During the 14 years the Conservatives were in power, the number of Tory peers rose to 273 while there are 187 Labour peers, 78 Liberal Democrat peers and 184 crossbenchers, who are not affiliated to any political party.

Other notable names that have been nominated include:

• Carwyn Jones – former first minister of Wales

• Dame Thérèse Coffey – former deputy prime minister

• Toby Young – founder and director of the Free Speech Union, and an associate editor of The Spectator.

• And Thangam Debonnaire – former shadow cabinet minister who lost her seat unexpectedly at the general election

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French regulator authorizes crypto operations for BPCE subsidiary

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French regulator authorizes crypto operations for BPCE subsidiary

BPCE’s crypto subsidiary, Hexarq, is the second banking crypto outfit to receive a nod from French regulator AMF after Société Générale’s Forge.

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2024 in review: The UAE crypto legal chronicles

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2024 in review: The UAE crypto legal chronicles

2024 cemented the UAE’s status as a global crypto hub as its landscape changed substantially with new stablecoin regulations, tax exemptions and stricter marketing rules.

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