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Rishi Sunak has responded to a poll showing Nigel Farage’s Reform party ahead of the Conservatives – saying a vote for the party would “give a blank cheque to Labour”.

Speaking to journalists at the G7 summit in Italy, the prime minister said: “We are only halfway through this election, so I’m still fighting very hard for every vote.

“And what that poll shows is – the only poll that matters is the one on 4 July – but if that poll was replicated on 4 July, it would be handing Labour a blank cheque to tax everyone, tax their home their pension their car, their family, and I’ll be fighting very hard to make sure that doesn’t happen.”

Election latest: Reform overtakes Tories for first time

Mr Sunak batted away the suggestion from Mr Farage that his party now represents the opposition to Labour – after a poll by YouGov put Reform on 19% and the Conservatives on just 18%.

The prime minister said: “Actually, when I’ve been out and about talking to people, they do understand that a vote for anyone who is not a Conservative candidate is just a vote to put Keir Starmer in Number 10.

“So if you want action on lower taxes, lower migration, protected pensions or a sensible approach to net zero you’re only going to get that by voting Conservative.

“And when people are thinking about the substance of what they want to see from a future government, if you’re someone who wants to see control over borders, you’re going to get that from us.”

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He went on: “You’re not going to get that from Labour – they’re going to cancel the Rwanda scheme, they’re not going to put in place a legal migration cap… a sensible approach to net zero.

“I’ve already announced that; Labour would reverse those reforms and put everyone’s bills up with net zero costs.

“And if you want your pension protected, we’re the only ones offering the triple lock plus, so actually, you know, when people sit down especially now this week when everyone can see very clearly the difference in approach from the two parties… will crystallise people’s minds on polling day.”

Ed Conway analyses manifestos:
Labour relying heavily on economic growth
Deep question marks buried in Conservative plan

Asked if the Tory party faced an “existential” threat, Mr Sunak said the publication of the two manifestos showed “there’s a massive difference on tax” between the Conservatives and Labour.

“We want to cut your taxes at every stage of your life in work, setting up a business, buying your first home, when you’re retired, you’re a pensioner or if you have a family – cutting taxes for everybody,” he said.

“The Labour Party consistently can’t tell you which taxes they’re going to put up, but they are going to put them up and as we saw yesterday, they’re going to raise the tax burden to the highest level in this country’s history. And that’s the choice for everyone at the election.”

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Crypto self-custody is a fundamental right, says SEC’s Hester Peirce

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Crypto self-custody is a fundamental right, says SEC's Hester Peirce

Hester Peirce, a commissioner of the United States Securities and Exchange Commission (SEC) and head of the SEC’s Crypto Task Force, reaffirmed the right to crypto self-custody and privacy in financial transactions.

“I’m a freedom maximalist,” Peirce told The Rollup podcast on Friday, while saying that self-custody of assets is a fundamental human right. She added:

“Why should I have to be forced to go through someone else to hold my assets? It baffles me that in this country, which is so premised on freedom, that would even be an issue — of course, people can hold their own assets.”

Privacy, SEC, Freedom, United States, Self Custody, Bitcoin Adoption, ETF
SEC commissioner Hester Peirce discusses the right to self-custody and financial privacy. Source: The Rollup

Peirce added that online financial privacy should be the standard. “It has become the presumption that if you want to keep your transactions private, you’re doing something wrong, but it should be exactly the opposite presumption,” she said.

The comments came as the Digital Asset Market Structure Clarity Act, a crypto market structure bill that includes provisions for self-custody, anti-money laundering(AML) regulations, and asset taxonomy, is delayed until 2026, according to Senator Tim Scott.

Related: SEC to hold privacy and financial surveillance roundtable in December

Exchange-traded funds (ETFs) challenge Bitcoin’s self-custody ethos

Many large Bitcoin (BTC) whales and long-term holders are pivoting from self-custody to ETFs to reap the tax benefits and hassle-free management of owning crypto in an investment vehicle.

“We are witnessing the first decline in self-custodied Bitcoin in 15 years,” Dr. Martin Hiesboeck, the head of research at crypto exchange Uphold, said.