The chief rabbi has described the BBC’s response to anti-IDF chanting at Glastonbury as “belated and mishandled” – as the punk-rap duo involved, Bob Vylan, said the UK government needed to talk about its “criminal inaction”.
Sir Ephraim Mirvis said “vile Jew-hatred” had been aired at the Somerset music festival and it was a “time of national shame”.
Confidence in the BBC’s “ability to treat antisemitism seriously” has been brought to a “new low”, he said in a post on X, adding that “outright incitement to violence and hatred” appeared to be acceptable if it was couched as “edgy political commentary”.
Ordinary people had not only failed to see incitement “for what it is” but had cheered it, chanted it, and celebrated it, he said. “Toxic Jew-hatred is a threat to our entire society,” he added.
Bob Vylan, posting a new statement on Instagram on Tuesday, said they were “not for the death of Jews, Arabs or any other race or group of people”.
Rather, they were for the “dismantling of a violent military machine” – the Israel Defence Forces.
Bob Vylan chanted “death to the IDF” at Glastonbury. As many as 95% of the IDF are thought to be Jewish.
In their statement, the group said they were a “distraction from the story” and that whatever “sanctions” they received would also be a distraction.
Their US visas have been revoked and United Talent Agency, their US representatives, have dropped them.
Image: Bob Vylan with their MOBO award in London in November 2022. Pic: Reuters
Referring to the war in Gaza, they claimed the UK government does not want them to ask “why they remain silent in the face of this atrocity”, “why they aren’t doing more to stop the killing” and “feed the starving”.
They added: “The more time they talk about Bob Vylan, the less time they spend answering for their criminal inaction.
“We are being targeted for speaking up. We are not the first, we will not be the last, and if you care for the sanctity of human life and freedom of speech, we urge you to speak up, too.”
It has emerged that Tim Davie, the BBC’s director-general, was at Glastonbury when the duo led chants of “Death to the IDF” which were broadcast live.
The prime minister’s spokesman, asked if the PM had confidence in Mr Davie, said Sir Keir Starmer had “confidence in the BBC”, adding: “The position of the director-general is a matter for the BBC’s board.”
Speaking in the Commons, Culture Secretary Lisa Nandy said “accountability” was important and it was something she had “impressed upon the BBC leadership”.
She added: “When you have one editorial failure, it’s something that must be gripped. When you have several, it becomes a problem of leadership.”
The cabinet minister said she’d called Mr Davie after Bob Vylan’s set had been broadcast to find out why it had aired, and why the feed had not been cut.
“I expect answers to these questions without delay,” she said.
Meanwhile Dame Caroline Dinenage, chair of the culture, media and sport committee, has written to Mr Davie in relation to the corporation’s Glastonbury coverage.
The committee has said the letter asks about editorial and decision-making processes and whether consideration was given to broadcasting with a delay. It also asks about staffing levels at the festival and contingency planning.
Image: Lisa Nandy, the culture secretary, has claimed there is a ‘problem of leadership’ at the BBC. File pic: PA
Avon and Somerset Police has begun a criminal investigation and is reviewing footage of both Bob Vylan and Kneecap’s performances at Glastonbury.
The force said a senior detective had been appointed – and it had been contacted by people from around the world.
“We… recognise the strength of public feeling,” it said.
During Kneecap’s set, one member suggested starting a “riot” outside his bandmate’s forthcoming court appearance, before clarifying that he meant “support”. Liam Og O hAnnaidh, also known as Mo Chara, is charged with a terror offence.
Image: Moglai Bap and Mo Chara of Kneecap performing at Glastonbury. Pic: Reuters
Bob Vylan had been due to tour the US before their visas were revoked.
US deputy secretary of state Christopher Landau said action had been taken “in light of their hateful tirade at Glastonbury, including leading the crowd in death chants”.
“Foreigners who glorify violence and hatred are not welcome visitors to our country,” he added.
Spotify
This content is provided by Spotify, which may be using cookies and other technologies.
To show you this content, we need your permission to use cookies.
You can use the buttons below to amend your preferences to enable Spotify cookies or to allow those cookies just once.
You can change your settings at any time via the Privacy Options.
Unfortunately we have been unable to verify if you have consented to Spotify cookies.
To view this content you can use the button below to allow Spotify cookies for this session only.
During Bob Vylan’s set, the duo performed in front of a screen that showed several messages, including one that claimed Israel’s actions in Gaza amounted to “genocide”.
The war in Gaza began after Hamas militants attacked Israel on 7 October 2023 and killed 1,200 people and took about 250 hostage.
Israel’s offensive in Gaza has led to the deaths of more than 56,500 people, according to the Hamas-run health ministry, which does not differentiate between civilians and combatants.
Media watchdog Ofcom has said the BBC “clearly has questions to answer” over the live stream from Glastonbury.
A BBC spokesperson said: “The director-general was informed of the incident after the performance and at that point he was clear it should not feature in any other Glastonbury coverage.”
The broadcaster respects freedom of expression but “stands firmly against incitement to violence”, they said.
They added: “The antisemitic sentiments expressed by Bob Vylan were utterly unacceptable and have no place on our airwaves…
“The team were dealing with a live situation, but with hindsight we should have pulled the stream during the performance. We regret this did not happen.”
Bitcoin’s latest pullback may already be bottoming out, with asset manager Grayscale arguing that the market is on track to break the traditional four-year halving cycle and potentially set new all-time highs in 2026.
Some indicators are already pointing to a local bottom, not a prolonged drawdown, including Bitcoin’s (BTC) elevated option skew rising above 4, which signals that investors have already hedged “extensively” for downside exposure.
Despite a 32% decline, Bitcoin is on track to disrupt the traditional four-year halving cycle, wrote Grayscale in a Monday research report. “Although the outlook is uncertain, we believe the four-year cycle thesis will prove to be incorrect, and that Bitcoin’s price will potentially make new highs next year,” the report said.
Bitcoin pullback, compared to previous drawdowns. Source: research.grayscale.com
Still, Bitcoin’s short-term recovery remains limited until some of the main flow indicators stage a reversal, including futures open interest, exchange-traded fund (ETF) inflows and selling from long-term Bitcoin holders.
US spot Bitcoin ETFs, one of the main drivers of Bitcoin’s momentum in 2025, added significant downside pressure in November, racking up $3.48 billion in net negative outflows in their second-worst month on record, according to Farside Investors.
Bitcoin ETF Flow, in USD, million. Source: Farside Investors
More recently, though, the tide has started to turn. The funds have now logged four consecutive days of inflows, including a modest $8.5 million on Monday, suggesting ETF buyer appetite is slowly returning after the sell-off.
While market positioning suggests a “leverage reset rather than a sentiment break,” the key question is whether Bitcoin can “reclaim the low-$90,000s to avoid sliding toward mid-to-low-$80,000 support,” Iliya Kalchev, dispatch analyst at digital asset platform Nexo, told Cointelegraph.
Fed policy and US crypto bill loom as 2026 catalysts
Crypto market watchers now await the largest “swing factor,” the US Federal Reserve’s interest rate decision on Dec. 10. The Fed’s decision and monetary policy guidance will serve as a significant catalyst for 2026, according to Grayscale.
Markets are pricing in an 87% chance of a 25 basis point interest rate cut, up from 63% a month ago, according to the CME Group’s FedWatch tool.
Later in 2026, Grayscale said continued progress toward the Digital Asset Market Structure bill may act as another catalyst for driving “institutional investment in the industry.” However, for more progress to be made, crypto needs to remain a “bipartisan issue,” and not turn into a partisan topic for the midterm US elections.
That effort effectively began with the passage of the CLARITY Act in the House of Representatives, which moved forward in July as part of the Republicans’ “crypto week” agenda. Senate leaders have said they plan to “build on” the House bill under the banner of the Responsible Financial Innovation Act, aiming to set a broader framework for digital asset markets.
The bill is currently under consideration in the Republican-led Senate Agriculture Committee and the Senate Banking Committee. Senate Banking Chair Tim Scott said in November that the committee planned to have the bill ready for signing into law by early 2026.
Poland’s President Karol Nawrocki declined to sign a bill imposing strict regulations on the crypto asset market, drawing praise from the crypto community and sharp criticism from others in the government.
Nawrocki vetoed Poland’s Crypto-Asset Market Act, saying its provisions “genuinely threaten the freedoms of Poles, their property, and the stability of the state,” according to a statement by the president’s press office on Monday.
Introduced in June, the bill has drawn criticism from industry advocates such as Polish politician Tomasz Mentzen, who had anticipated the president’s refusal to sign it as it cleared parliamentary approval.
Although crypto advocates welcomed the veto as a win for the market, several government officials condemned the move, claiming the president had “chosen chaos” and must bear full responsibility for the outcome.
Why the president vetoed the bill
One of the main reasons cited for the veto was a provision allowing authorities to easily block websites operating in the crypto market.
“Domain blocking laws are opaque and can lead to abuse,” the president’s office said in an official news release.
The president’s office also cited the bill’s widely criticized length, saying its complexity reduces transparency and would lead to “overregulation,” especially when compared with simpler frameworks in the Czech Republic, Slovakia and Hungary.
Source: Press office of Polish President Karol Nawrocki (post translated by X)
“Overregulation is an easy way to drive companies to the Czech Republic, Lithuania or Malta, rather than create conditions for them to operate and pay taxes in Poland,” the president said.
Nawrocki also highlighted the excessive amount of supervisory fees, which may prevent startup activity and favor foreign corporations and banks.
“This is a reversal of logic, killing off a competitive market and a serious threat to innovation,” he said.
Critics jump in: “The president chose chaos”
Nawrocki’s veto has triggered a strong backlash from top Polish officials, including Finance Minister Andrzej Domański and Deputy Prime Minister and Minister of Foreign Affairs Radosław Sikorski.
Domański warned on X that “already now 20% of clients are losing their money as a result of abuses in this market,” accusing the president of having “chosen chaos” and saying he bears full responsibility for the fallout.
Sikorski echoed the concern, saying that the bill was supposed to regulate the crypto market. “When the bubble bursts and thousands of Poles lose their savings, at least they will know who to thank,” Sikorski argued on X.
Source: Finance Minister Andrzej Domański (posts translated by X)
Crypto advocates, including Polish economist Krzysztof Piech, quickly pushed back, arguing that the president cannot be held responsible for authorities failing to pursue scammers.
He also noted that the European Union’s Markets in Crypto-Assets Regulation (MiCA) is set to provide investor protections across all EU member states starting July 1, 2026.
The US Federal Deposit Insurance Corporation will propose a framework for implementing US stablecoin laws later this month, according to its acting chair, Travis Hill.
“The FDIC has begun work to promulgate rules to implement the GENIUS Act; we expect to issue a proposed rule to establish our application framework later this month,” Hill said in prepared testimony to be delivered on Tuesday to the House Financial Services Committee.
He added the agency will also have a “proposed rule to implement the GENIUS Act’s prudential requirements for FDIC-supervised payment stablecoin issuers early next year.”
President Donald Trump signed the GENIUS Act in July, which created oversight and licensing regimes for multiple regulators, with the FDIC to police the stablecoin-issuing subsidiaries of the institutions it oversees.
The FDIC insures deposits in thousands of banks in the event that they fail, and under the GENIUS Act, it will also be tasked with making “capital requirements, liquidity standards, and reserve asset diversification standards” for stablecoin issuers, said Hill.
Travis Hill appearing before the Senate Banking Committee for his nomination hearing to be FDIC chair. Source: Senate Banking Committee
Federal agencies, such as the FDIC, publish their proposed rules for public feedback, and they then review and respond to the input, if necessary, before publishing a final version of the rules, a process that can take several months.
The Treasury, which will also regulate some stablecoin issuers, including non-banks, began its implementation of the GENIUS Act in August and finished a second period of public comment on its implementation proposal last month.
FDIC is working on tokenized deposit guidelines
Hill said in his remarks that the FDIC has also considered recommendations published in July by the President’s Working Group on Digital Asset Markets.
“The report recommends clarifying or expanding permissible activities in which banks may engage, including the tokenization of assets and liabilities,” Hill said.
“We are also currently developing guidance to provide additional clarity with respect to the regulatory status of tokenized deposits,” he added.
Fed helping regulators with stablecoin rules
The Federal Reserve’s vice supervision chair, Michelle Bowman, will also testify on Tuesday that the central bank is “currently working with the other banking regulators to develop capital, liquidity, and diversification regulations for stablecoin issuers as required by the GENIUS Act.”
Bowman added, according to her prepared remarks, that “we also need to provide clarity in treatment on digital assets to ensure that the banking system is well placed to support digital asset activities.”
“This includes clarity on the permissibility of activities, but also a willingness to provide regulatory feedback on proposed new use cases,” she said.
The House Finance Committee’s hearing on Tuesday will also see remarks from the heads of the Office of the Comptroller of the Currency and the National Credit Union Administration, which will both have a role in implementing stablecoin rules.