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Scottish independence would reduce energy bills north of the border by more than a third, First Minister John Swinney has claimed.

However, the SNP leader was unable to clearly answer how his party would deliver independence if the UK government continues to refuse requests for a second referendum.

Mr Swinney once again made the case for Scotland leaving the UK, and taking full control over its natural resources, at an SNP campaign event in Glasgow on Monday.

Inspired by his party’s old “it’s Scotland’s oil” political slogan, the first minister stated: “It’s Scotland’s energy.”

Pic: PA
Image:
Pic: PA

He added: “We know from analysis produced for Ofgem that a different policy approach would enable Scotland to have the lowest wholesale electricity prices in Western Europe.

“As we set out in the paper published today, by selling that low-cost electricity into other markets at a profit; by increasing storage capacity, including pumped hydro storage; to end the folly of generators being paid not to produce electricity; and by removing unnecessary costs like the UK’s nuclear levy, we can deliver big benefits here in Scotland.

“That includes being able to lower household electricity bills by over one-third. A big saving for families across Scotland, offering the real hope that cost of living pressures will finally begin to ease.”

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Mr Swinney said lower energy bills would benefit schools and the NHS.

He added: “Think what that will mean for our National Health Service.

“Less money spent on energy bills means more money to spend on doctors and nurses, on more operations and appointments.”

When questioned on how he intends to deliver Scottish independence if the UK government refuses a second referendum, Mr Swinney said: “We’ve got to demonstrate emphatic support for the proposition of independence, and we do so by electing a majority of SNP MSPs at the election in May.”

Read more from Sky News:
Millionaire former Tory donor defects to Reform
UK ‘would benefit’ from rejoining an EU customs union

Mr Swinney said he met Prime Minister Sir Keir Starmer on Friday, and warned the Labour leader he is at risk of becoming the new Margaret Thatcher.

The first minister said: “I left the prime minister in no doubt that unless he changes course, what we face is a second wave of 80s-style deindustrialisation, 80s-style economic devastation.

“Today, Sir Keir Starmer is an even less popular prime minister than Liz Truss – and that takes some doing.

“But if he does not change course on the energy profits levy, he will enter our national story as a second Thatcher, a second destroyer of industry, a second destroyer of communities.

“And Scotland will not forget.”

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Inside Britain’s asylum seeker capital

The event was held in a city which has been described as the “asylum capital of the UK”.

When questioned on the SNP’s “welcoming” position towards refugees amid growing numbers of protests about the issue, the first minister described the demonstrations outside asylum hotels as “appalling”.

He added: “There’s language on these banners that I just find absolutely wholly and totally contemptible and hostile.”

Mr Swinney acknowledged the growing popularity of Reform UK, but said he would “challenge” the party.

The first minister added: “I will go up against Reform in what they say.

“I will stand firm in exercising that political leadership, and I’m quite sure I speak for the majority of people in Scotland in the process.”

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Securitize hires former PayPal exec as US tokenization gains traction

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Securitize hires former PayPal exec as US tokenization gains traction

Major tokenization platform Securitize has doubled down on its push to bring tokenized equity to US investors, naming a former PayPal executive as its new general counsel.

Securitize on Tuesday announced the appointment of ex-PayPal executive Jerome Roche, who led the company’s expansion into digital asset projects, including the PayPal USD (PYUSD) stablecoin.

Securitize also said its tokenized securities are already available to US investors, challenging the notion that most issuers prefer to offer such products abroad due to local stock access.

“There’s been a perception that tokenized securities must be offered primarily outside the US, but our experience shows the opposite,” Securitize CEO Carlos Domingo told Cointelegraph.

“Clear regulatory path” for tokenized stocks in the US

According to Securitize, operating real-world asset (RWA) tokenization offerings inside the US regulatory perimeter is “not only possible, but scalable, at institutional quality.”

“We’ve demonstrated that there is a clear regulatory path for issuers to natively tokenize assets for US investors,” Domingo said.

“These are not synthetic representations, or derivatives, but real securities onchain,” the CEO said, adding:

“We operate using SEC-regulated infrastructure, including a registered transfer agent broker-dealer, and fund admin, which allows US investors to access and legally hold tokenized securities in a fully compliant framework.”

Securitize’s optimistic outlook on the US tokenization comes days after the platform obtained regulatory approval to operate as an investment company and a trading ánd settlement system in the European Union on Nov. 26. According to the company, the approval positioned it as one of the first operators for regulated digital securities infrastructure in both the US and EU.

Source: Securitize

“For the first time, modern ledger technology is giving us the ability to record ownership, settle transactions, and move value in ways that are fundamentally better than the fragmented systems we’ve inherited,” Securitize’s newly appointed general counsel, Roche, said in the announcement.

“Innovation only works when it fits squarely within the guardrails of applicable law,” he added, underscoring Securitize’s global push for regulated tokenized securities.

Related: US Treasurys lead tokenization wave as CoinShares predicts 2026 growth

Securitize’s news is another sign of the US warming to tokenization. On Monday, the Securities and Exchange Commission dropped its investigation into rival tokenization platform Ondo Finance.

Ondo said the decision marks a new chapter for tokenized securities in the US, where they are poised to become a “core part of the capital markets.”