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People who have tracked the location of their stolen mobile phones, laptops or bikes can expect swifter police action under new measures to be introduced to parliament today.

In a drive to tackle street crimes, officers will no longer need a warrant to enter a premises where stolen items have been electronically located, such as through a phone-tracking app or Bluetooth.

A police inspector will be able to sign off entry to a premises, rather than waiting for a judge or magistrate, in order to act during the “golden hour” just after a theft and increase the chances of a conviction, ministers said.

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It is one of a number of new powers in the Crime and Policing Bill, set to become law later this year, to address what the home secretary has called an “extremely frustrating” situation for victims of crime.

“Snatch thefts” of mobile phones and bags have more than doubled in the past year, with more than 200 incidents a day in 2024, according to Home Office figures. Just 0.8% of these thefts led to a charge, despite some victims offering police evidence from tracking devices.

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Police recover 1,000 stolen phones in a week

“For the last few years, our towns and cities have seen street theft shoot up, as organised gangs have been targeting mobile phones,” Home Secretary Yvette Cooper said.

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“But it is extremely frustrating for victims when they can see exactly where their stolen phone has gone but nothing is done. That is why we are determined to give the police the powers they need to move fast to crack down on these crimes that are blighting our communities.”

The powers will also apply to police retrieving stolen vehicles, tools or tractors which are geolocated. It comes alongside tougher measures for people in possession of signal jammers used to steal keyless cars, which would be punishable by up to five years in prison

The bill is a major update to existing crime legislation, with new measures to tackle knife crime, violence against women and girls, cyber crime, child sexual abuse and terrorism.

However, there are questions about how officers will have the capacity to attend to thousands of cases of stolen phones, with the government still planning to recruit an extra 13,000 community police officers as promised at the election.

Ministers have also proposed specific new criminal offences in the bill, for assaulting a shopworker – carrying a maximum sentence of six months; “cuckooing”, in which a vulnerable person’s home is used for illegal activities such as drug dealing; and climbing on war memorials. Other new crimes include spiking and using AI to produce child sexual abuse material.

The bill enshrines respect orders, which are already being piloted, to restrict the movement of people who persistently cause harm in their communities – with those who breach them to be charged with a criminal offence.

They are similar to the anti-social behaviour orders (Asbos) introduced under the last Labour government but with requirements such as attending anger management courses as well as prohibitions.

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An impact assessment of how these new offences will affect the overstretched prisons crisis will not be immediately published.

The home secretary said: “For too long communities have had to put up with rising town centre and street crime, and persistent antisocial behaviour, while neighbourhood police have been cut.

“And for years too little has been done to tackle the most serious violence of all including knife crime and violence against women and children.

“That is why the new Crime and Policing Bill is about taking back our streets and town centres, restoring respect for law and order, and giving the police and local communities the support and tools they need to tackle local crime.”

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Prediction markets bet on Coinbase-linked Hassett as top Fed pick

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Prediction markets bet on Coinbase-linked Hassett as top Fed pick

Prediction markets Polymarket and Kalshi view Kevin Hassett, US President Donald Trump’s National Economic Council director, as the favorite to replace Jerome Powell as the next Federal Reserve chair.

The odds of Hassett filling the seat have spiked to 66% on Polymarket and 74% on Kalshi at the time of writing. Hassett is widely viewed as crypto‑friendly thanks to his past role on Coinbase’s advisory council, a disclosed seven‑figure stake in the exchange and his leadership of the White House digital asset working group.​

Founder and CEO of Wyoming-based Custodia Bank, and a prominent advocate for crypto-friendly regulations, Caitlin Long, commented on X:

“If this comes true & Hassett does become Fed chairman, anti-#crypto people at the Fed who still hold positions of power will finally be out (well, most of them anyway). BIG changes will be coming to the Fed.”

Source: Polymarket Money

Related: Crypto-friendly Trump adviser Hassett top pick for Fed chair: Report

Kevin Hassett’s crypto credentials

Hassett is a long-time Republican policy economist who returned to Washington as Trump’s top economic adviser and has now emerged as the market-implied frontrunner to lead the Fed.

His financial disclosure reveals at least a seven‑figure Coinbase stake and compensation for serving on the exchange’s Academic and Regulatory Advisory Council, placing him unusually close to the crypto industry for a potential Fed chair.​

Still, crypto has been burned before by reading too much into “crypto‑literate” resumes. Gary Gensler arrived at the Securities and Exchange Commission with MIT blockchain courses under his belt, but went on to preside over a wave of high‑profile enforcement actions, some of which critics branded as “Operation Chokepoint 2.0.”

A Hassett-led Fed might be more open to experimentation and less reflexively hostile to bank‑crypto activity. Still, the institution’s mandate on financial stability means markets should not assume a one‑way bet on deregulation.​

Related: Caitlin Long’s crypto bank loses appeal over Fed master account

Supervision pushback inside the Fed

The Hassett odds have jumped just as the Fed’s own approach to bank supervision has received pushback from veterans like Fed Governor Michael Barr, who earned his reputation as one of Operation Chokepoint 2.0’s key architects.

According to Caitlin Long, while he Barr “was Vice Chairman of Supervision & Regulation he did Warren’s bidding,” and he “has made it clear he will oppose changes made by Trump & his appointees.”

On Nov. 18, the Fed released new Supervisory Operating Principles that shift examiners toward a “risk‑first” framework, directing staff to focus on material safety‑and‑soundness risks rather than procedural or documentation issues.

In a speech the same day, Barr warned that narrowing oversight, weakening ratings frameworks and making it harder to issue enforcement actions or matters requiring attention could leave supervisors slower to act on emerging risks, arguing that gutting those tools may repeat pre‑crisis mistakes.​

Days later, in Consumer Affairs Letter 25‑1, the Fed clarified that the new Supervisory Operating Principles do not apply to its Consumer Affairs supervision program (an area under Barr’s committee as a governor).

If prediction markets are right and a crypto‑friendly Hassett inherits this landscape, his Fed would not be writing on a blank slate but stepping into an institution already mid‑pivot on how hard (and where) it leans on banks.