Rishi Sunak’s flagship smoking ban has passed its first parliamentary hurdle despite opposition from within his cabinet – as Labour backed the bill.
Mr Sunak wants to raise the legal age to buy cigarettes annually in a bid to phase out the habit, as well as restrict the sales of vaping products.
The proposals would make it illegal to sell tobacco products to anyone born after 1 January 2009 – with the prime minister hoping to create a “smoke-free” generation.
Conservative MPs were given a free vote in the Commons this evening, meaning they were allowed to oppose the government if they wished without facing repercussions.
The House of Commons voted in favour of the plan by 383 votes to 67.
There was a sizeable Tory rebellion and a significant number of abstentions.
Kemi Badenoch, the business and trade secretary and a former leadership contender, said she would not support the legislation before the vote.
Ms Badenoch – who has also been tipped to run to replace Mr Sunak if he loses the next election – said on social media that while she agrees with the plan’s intentions, giving adults “born a day apart… permanently different rights” is an issue with the policy – as is the practicality of asking businesses to enforce it.
Advertisement
Other ministers who voted against the bill included Andrew Griffith, Steve Baker, Julia Lopez, Lee Rowley and Alex Burghart, as well as Conservative deputy chair Jonathan Gullis.
In total, 57 Conservative MPs voted against Mr Sunak’s plans, with 106 abstaining.
One such abstention was Anne Marie-Trevelyan, a Foreign Office minister, who said ahead of time that she would not support the Tobacco and Vapes Bill.
Another was Commons leader – and another party leadership hopeful – Penny Mordaunt.
Former immigration minister Robert Jenrick was one of those former ministers who signalled beforehand his intention to vote against the government’s proposed smoking ban.
“I believe in personal freedom,” he posted on X. “Let’s educate more and ban less.”
Other senior Conservatives – like former prime minister Liz Truss, former business secretary Sir Jacob Rees-Mogg and former home secretary Suella Braverman – all said before the vote they did not support the bill, and they all voted against it.
Another former Tory prime minister, Boris Johnson, has also criticised the plan – calling it “mad” and “nuts”.
Labour MPs were whipped to support the prime minister’s plans, with shadow health secretary Wes Streeting speaking in support of the policy in the Commons debate ahead of the vote.
Image: Ms Truss was one of the Conservatives leading the charge against the bill. Pic: AP
The arguments within the Conservative Party centred around whether the ban impinged on civil liberties at the cost of health.
Some, like current Health Secretary Victoria Atkins and former office holder Sajid Javid, said smoking removes choice as young people get addicted and cannot choose to stop – before noting the high costs to the NHS caused by smokers.
Smoking kills about 80,000 people a year and costs the NHS and the economy an estimated £17bn annually.
The other side of the argument – put forward by former prime minister Ms Truss – said the bill would limit people’s freedoms, and trying to protect people from themselves is problematic, before warning of potential further bans on products like alcohol and sugar.
Mr Sunak announced his plans at his party’s conference in Manchester last year, saying it would mean someone aged 14 would “never legally be sold a cigarette and that they and their generation can grow up smoke-free”.
On vapes, he stated his desire to restrict the way they are marketed, including looking at flavours, packaging displays and disposable vapes.
At the time, a similar plan for a rising smoking age ban in New Zealand was touted as an example for the UK to follow – but this restriction was scrapped before it came into force in the country.
Follow Sky News on WhatsApp
Keep up with all the latest news from the UK and around the world by following Sky News
Spreaker
This content is provided by Spreaker, 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 Spreaker 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 Spreaker cookies.
To view this content you can use the button below to allow Spreaker cookies for this session only.
Do Kwon, the co-founder of Terraform Labs, has been sentenced to 15 years in prison after pleading guilty to wire fraud and conspiracy to defraud.
In a Thursday hearing in the US District Court for the Southern District of New York, Judge Paul Engelmayer ordered that Kwon serve 15 years in prison for his role in the collapse of Terraform, which wiped out about $40 billion from the crypto market in 2022. He will receive credit for time served in the US and 17 months of pre-extradition custody.
Prior to making his decision on sentencing, Engelmayer heard from some of Terraform’s victims and questioned what kind of justice Kwon might face in his native South Korea, where authorities are also building a case against him.
“I would like everyone to know that I have spent all my time thinking what I could have done, and what I can do,” said Kwon prior to his sentencing, according to Inner City Press. “It’s been four years since the crash, three years since I’ve seen my family. I’d like to [do] my penance in my home country.”
Engelmayer reportedly said the 12-year recommendation US prosecutors had requested the court impose on Kwon was “unreasonable,” while the five years requested by the co-founder’s lawyers “would be so implausible it would require appellate reversal.”
“To the next Do Kwon, if you commit fraud, you will lose your liberty for a long time as you will here,” said Engelmayer, according to Inner City Press. “You have been bitten by the crypto bug, and I don’t think that’s changed. You must be incapacitated. If not for your guilty plea, my sentence would have been higher.”
The judge added, addressing Kwon:
“Your fraud was unusually serious. For four years you publicly lied to the market […] The investors were taking a risk, caveat emptor. But they were not taking the risk of being a fraud victim… What makes what you did so despicable is that you traded on trust.”
Kwon could be extradited to South Korea after serving seven and a half years, where he may complete the second half of his US sentence. He could face up to an additional 40 years in prison in his native country.
Several victims have their say during the sentencing hearing
Prosecutors said at the sentencing hearing that there were about 16,500 victims from the collapse of Terraform, according to claims in the company’s ongoing bankruptcy case. Six of them were allowed to address the court via phone before Engelmayer’s decision, describing their financial losses due to Terra.
“I sold my apartment in Moscow to invest with Do Kwon,” said Tatiana Dontsova, one of the victims, according to Inner City Press. “I moved to Tbilisi. $81,000 turned into $13 in the palm of my hand. Kwon came up with Luna 2, calling it LUNC. He is not showing any responsibility for those who invested. I am now officially homeless.”
Kwon, alleged to have had a role in the 2022 collapse of the Terra ecosystem, was handed over to US authorities in December 2024 after his extradition from Montenegro. His legal team delayed proceedings for months by presenting various challenges in the Montenegrin courts.
With Kwon expected to be in prison for years, the Terraform co-founder became the latest former high-profile cryptocurrency executive to enter a plea deal or be found guilty in US courts.
Former FTX CEO Sam Bankman-Fried is serving a 25-year sentence, former Binance CEO Changpeng Zhao served four months — though was later pardoned by US President Donald Trump — and former Celsius CEO Alex Mashinsky was sentenced to 12 years.
Update (Dec. 11 at 7:35 pm UTC): This article has been updated to include a Thursday policy announcement from Caroline Pham.
The top Republican on the Senate Agriculture Committee said the full chamber could vote on US President Donald Trump’s pick to chair the Commodity Futures Trading Commission “maybe as soon as this afternoon.”
In a prepared statement for a Thursday hearing on CFTC reauthorization, Committee Chair Glenn Thompson said the Senate could vote on Michael Selig’s nomination to chair the agency on Thursday. The potential vote would come just a few weeks after the Agriculture Committee advanced Selig’s nomination to the full chamber, along partisan lines.
According to the Senate’s calendar of business, a vote on Selig’s nomination did not appear on the schedule for Thursday. The chamber is expected to break for the holidays on Dec. 22, giving lawmakers a limited window to confirm the prospective CFTC chair.
Selig, whom Trump nominated as CFTC chair in November following the withdrawal of his former pick, Brian Quintenz, faced lawmakers in a November hearing. The prospective chair said it was “vitally important that [the CFTC] have a cop on the beat” for addressing crypto regulation and enforcement.
Acting CFTC Chair Caroline Pham has been the sole commissioner at the financial regulator for months, following the resignation or departure of every member of its leadership due to their terms expiring. Pham is also expected to leave once the Senate confirms a replacement chair, potentially leaving Selig as the sole member.
Pham is still pushing for crypto in her final days
Although it’s unclear when Pham may leave the CFTC, the acting chair has continued to push the Trump administration’s agenda on digital assets by advocating for policies that favor the industry and bringing executives in closer.
On Thursday, the acting chair said she planned to withdraw the CFTC’s “outdated” guidance on digital assets, claiming it “penalizes the crypto industry and stifles innovation.”
Mexico’s central bank warned in a new financial stability report that “stablecoins pose significant potential risks to financial stability,” citing their rapid growth, links to traditional finance and global regulatory gaps that could fuel arbitrage and magnify market stress.
Stablecoins’ heavy reliance on short-term US Treasurys, market concentration with two issuers controlling 86% of the supply and past depegging episodes with stablecoins underscore how vulnerable the sector remains to stress, according to the Banxico report.
Without coordinated international safeguards, mass redemptions or issuer failures could spill into broader funding markets, the central bank warned.
Banxico also highlighted diverging regulatory approaches as a growing source of risk, noting that frameworks like the EU’s MiCA and the US GENIUS Act impose different reserve, redemption and depositor-protection requirements, creating regulatory gaps that could incentivize arbitrage across jurisdictions.
Banxico acknowledged that stablecoins can improve settlement efficiency, reduce transfer costs and support remittances and liquidity in decentralized finance. However, it plans to keep a cautious distance between the traditional financial system and virtual assets, citing their potential to cause stress in broader markets.
Crypto adoption in Mexico is relatively low. According to Chainalysis’ Global Crypto Adoption Index, the country fell to 23rd place in 2025 from 14th place in 2024 in the adoption ranking.
The central bank’s warning reflects Mexico’s broader cautious stance on crypto. Despite the rise of exchanges like Bitso, the country has not introduced significant new digital-asset legislation and still relies on its 2018 Fintech Law as the primary regulatory framework.
Brazil and Argentina lead Latin America in crypto adoption
While Mexico’s central bank maintains a cautious stance on digital assets, other Latin American countries have embraced adoption.
Chainalysis’ 2025 Geography of Crypto Report shows that Latin America generated nearly $1.5 trillion in crypto transaction volume from July 2022 to June 2025, with monthly activity increasing to almost $88 billion by December 2024 from $20.8 billion in mid-2022. Several months in late 2024 and early 2025 consistently exceeded $60 billion.
According to the report, Brazil led Latin America by a wide margin, receiving $318.8 billion in crypto value from July 2022 to June 2025, nearly one-third of all activity in the region, while Argentina ranked second with $93.9 billion in transaction volume.
The central banks of the two leading countries are also taking a more proactive stance in regulating digital assets.
In November, Brazil’s central bank finalized rules that place crypto companies under banking-style supervision, including treating stablecoin transactions and certain self-custody wallet transfers as foreign exchange operations.