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Every morning, Mike Burton strides out into the chilly sea at Cleethorpes.

His daily ritual in the murky water at the mouth of the Humber is about doing something positive.

He dunks under while holding his mobile phone above the surface, then he pops up and records his daily message of motivation and positivity.

Mike Burton
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Mike Burton

It’s quickly shared online.

As someone from a troubled upbringing who left school unable to read and write, he knows the value of connecting with people.

Over the past two decades, he has set up a string of special educational needs schools and is now working as a motivational speaker.

As Jeremy Hunt was preparing to deliver the budget, Mike told Sky News: “For me it comes down to one word, hope.

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“Hope that things are going to change and that they can get behind something and believe in it.

“I think they need to touch and feel it – and see how it is going to change their life.”

That’s what the chancellor would probably have aimed for but speaking to people in Sky News’ Target Towns of Grimsby and Cleethorpes, it didn’t quite connect like that.

A view of a town

Read more:
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The key announcements of the 2024 Budget

Analysis – No pre-election fireworks in Hunt’s safety-first budget

At the West Marsh community centre in Grimsby where they were laying on a free family drop-in session, plenty of parents were trying to work out if another cut in national insurance would really equate to feeling any better off.

Not really was the consensus.

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Community worker at the centre, Alan Burley, told Sky News: “I don’t think the budget has helped anybody dramatically… it’s an election pitch.

“They (the government) have taken so much away I don’t see how they can ever give money back that will really help because anything they give back is swallowed up… just like that.”

Alan Burley
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Alan Burley

If the budget was designed to win back votes in seats like this one on the Lincolnshire coast, then it fell short.

At the Great Escape’s community cafe on the docks in Grimsby, Chelsea told us she is worn down by so many stories of people struggling in her town.

Chelsea
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Chelsea

“You can’t win can you?” she said of the chancellor’s budget.

The 20-year-old works at her family’s garage and while she may benefit from the further cut in national insurance she knows it will disappear without much trace.

“It goes down but next month something else will be up again.”

She’s frustrated at the lack of progress here.

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What does Budget 2024 mean for you?

“We are not picking up as a country… we are going back,” she said.

The chancellor is not a magician, as the saying goes there is no magic money tree. There never has been.

People know that but after years of drag on their own budgets, they needed a bit more – votes will be hard to win here.

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Philippines blocks Coinbase, Gemini amid wider crackdown on unlicensed VASPs

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Philippines blocks Coinbase, Gemini amid wider crackdown on unlicensed VASPs

Internet service providers (ISPs) in the Philippines began blocking major crypto trading platforms as regulators moved to enforce local licensing rules on crypto service providers. 

Users reported that as of Tuesday, access to global cryptocurrency exchanges Coinbase and Gemini was unavailable in the Philippines. Cointelegraph independently confirmed that both platforms were inaccessible across multiple local ISPs. 

A report by the Manila Bulletin said the ISP blocks followed an order from the National Telecommunications Commission, which directed providers to restrict access to 50 online trading platforms flagged by the Bangko Sentral ng Pilipinas (BSP), the central bank, as operating without authorization.

The central bank did not publish a full list of the platforms hit by the order. However, the change signals an ongoing shift by local regulators from informal tolerance to enforcement, making local licensing the deciding factor for crypto market access in the Philippines.

Crypto exchange Coinbase is now inaccessible in the Philippines. Source: Cointelegraph

Coinbase, Gemini join Binance in Philippines access block

While the Philippines has only recently blocked Coinbase and Gemini, the country has made enforcement moves against unlicensed crypto exchanges in the past. 

In December 2023, the country started a 90-day countdown, giving Binance time to comply with local regulations before enforcing a ban on the crypto trading platform.

The Philippines Securities and Exchange Commission (SEC) said the period was meant to allow Filipinos to remove their funds from the exchange. 

On March 25, 2024, the NTC ordered local ISPs to block Binance. Nearly a month later, the SEC ordered Apple and Google to block the exchange’s application from their stores.

After the ban was enforced, the Philippines SEC said it could not endorse ways for Filipinos to retrieve their funds.

More recently, the SEC identified 10 exchanges, including OKX, Bybit and KuCoin, operating without licenses.

Related: Grab deepens stablecoin push with StraitsX Web3 wallet and settlements

Regulated players roll out crypto products

While the country cracks down on unregulated platforms, compliant companies have been rolling out crypto-related infrastructure in the country. 

On Nov. 19, regulated crypto exchange PDAX partnered with payroll provider Toku to let remote workers receive their salaries in stablecoins. This allows workers to convert earnings to pesos without wire fees or delays. 

On Dec. 8, digital bank GoTyme rolled out crypto services in the Philippines following a partnership with US fintech firm Alpaca. With the rollout, 11 crypto assets can be bought and stored through the platform’s banking application.