Business Secretary wants staff in ‘at least’ two or three days a week
A minister has told Sky News he would like staff in his department to be coming into the office “at least” two or three days a week, after the government insisted it would follow a “cautious” approach to civil servants returning to their desks.
Business Secretary Kwasi Kwarteng was asked about his views on people working from home amid the COVID-19 pandemic.
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Current government guidance says that ministers are ‘no longer instructing people to work from home if they can’
It comes after an unnamed minister was quoted by one newspaper as saying officials should have their pay reduced if they refuse to come back to the office.
Speaking to Kay Burley, Mr Kwarteng said: “I think we should try to come in maybe 2-3 days a week at least.
“But it’s a gradual process, no-one is being forced back against their will.
“You’ve got to make the environment very safe but I think it is probably quite a good thing to spend more time in the week at work, that’s just a personal view.”
Mr Kwarteng added that ministers would not “dictate” to businesses when it comes to working arrangements, but stressed the benefits of “flexibility” and being able to go into the office or workplace.
“I think if you’re trying to make a career it probably makes sense to actually meet colleagues and build a network and learn from other people and I think that’s probably best done in the workplace,” he added.
Chancellor Rishi Sunak last week spoke of the benefits of working in an office, stressing the positive impact it had on his early career.
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Current government guidance, which came into effect when most COVID restrictions were lifted on 19 July, states that ministers are “no longer instructing people to work from home if they can, so employers can start to plan a return to workplaces”.
“During this period of high prevalence, the government expects and recommends a gradual return over the summer,” it adds.
“You should discuss the timing and phasing of a return with your workers.”
But a minister quoted by the Daily Mail advocated a more hardline approach to ending home working.
“People who have been working from home aren’t paying their commuting costs so they have had a de facto pay rise, so that is unfair on those who are going into work,” they reportedly said.
“If people aren’t going into work, they don’t deserve the terms and conditions they get if they are going into work.”
The chancellor has recently spoken of the benefits of working in an office
The minister also suggested that “people who want to get on in life will go into the office because that’s how people are going to succeed”.
A union leader criticised the comments, describing them as “insulting” and a demonstration that ministers are “out of touch with modern working practices”.
Dave Penman, general secretary of the FDA civil service union, said: “What should matter to ministers is whether public services are being delivered effectively, not where individual civil servants are sitting on a particular day.”
At the weekend it was reported that plans to require staff at the Department of Health and Social Care to be based partly in the office from next month have been scrapped.
According to The Guardian, the department had put staff on notice that from September the “minimum expectation” would be that they should be in the office for a minimum of four and maximum of eight days a month, unless there was a business or wellbeing reason.
But the department’s director of workplace and director of HR told staff on Thursday that “it’s clear that we cannot proceed with this phase on the planned timescale”.
A government spokesperson said: “The Civil Service continues to follow government guidance, as we gradually and cautiously increase the number of staff working in the office.
“Our approach, which builds on our learning during the pandemic, takes advantage of the benefits of both office and home-based working across the UK.”
Bitcoin remains on track to surpass $1.8 million by 2035 despite recent price corrections and waning investor appetite caused by ongoing global trade tensions, according to Joe Burnett, director of market research at Unchained.
Speaking during Cointelegraph’s Chainreaction live show on X, Burnett said that Bitcoin is still in a long-term bullish cycle and could potentially rival or surpass gold’s $21 trillion market capitalization within the next decade.
Despite tariff uncertainty limiting risk appetite among investors, research analysts remain optimistic about Bitcoin’s (BTC) long-term prospects for the next decade.
“When I think about where Bitcoin will be in 10 years, there are two models I admire,” Burnett said. “One is the parallel model, which suggests that Bitcoin will be about $1.8 million in 2035.” “The other is Michael Saylor’s Bitcoin 24 model, which suggests Bitcoin will be $2.1 million by 2035.”
Burnett emphasized that both are “good base cases,” adding that Bitcoin’s trajectory could exceed these predictions depending on broader macroeconomic factors.
🎙Could Bitcoin really hit $10m by Q1 2035? Perhaps.
But first, we need to unravel the tangled web of the markets this week, and for both discussions, @rkbaggs and @gazza_jenks are joined today by Joe Burnett (@IIICapital) on the #CHAINREACTION show! https://t.co/hfyEwGUCsh
— Cointelegraph (@Cointelegraph) April 11, 2025
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Bitcoin outlook remains long-term bullish
“The automobile industry is significantly more valuable than the horse and buggy industry,” Burnett said, adding that Bitcoin’s more advanced technological properties will make it surpass the $21 trillion market capitalization of gold. He added:
“The gold market is an estimated $21 trillion market. If Bitcoin just hit $21 trillion and had Bitcoin-gold parity, Bitcoin would be $1 million per coin today.”
Since US President Donald Trump’s Jan. 20 inauguration, global markets have been under pressure due to heightened trade war fears. Hours after taking office, Trump threatened to impose sweeping import tariffs aimed at reducing the country’s trade deficit, weighing on risk sentiment across both equities and crypto.
While Bitcoin’s role as a safe-haven asset may reemerge amid ongoing trade war concerns, physical gold and tokenized gold remain the current winners.
Top tokenized gold assets, trading volume. Source: CoinGecko, Cex.io
Tariff fears led tokenized gold trading volume to surge to a two-year high this week, topping $1 billion for the first time since the US banking crisis in 2023, Cointelegraph reported on April 10.
Related: Bitcoin’s 24/7 liquidity: Double-edged sword during global market turmoil
Strong hands hold during drawdowns
Bitcoin’s volatility is falling during both bear and bull markets, signaling its growing maturity as an asset class.
While another 80% drawdown during future bear markets is still possible, this will act as a robust acquisition period for the “strongest” holders, Burnett said, adding:
“The highs bring [Bitcoin] attention, and the deep, dark bear markets move coins into the hands of the strongest, most convicted holders, as fast as possible.”
Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom, predicted Bitcoin could climb to $250,000 by the end of 2025 if the US Federal Reserve formally enters a quantitative easing cycle.
Despite the optimistic predictions, investors remain cautious and continue “rebalancing their portfolios” but are unlikely to take on significant positions in the next 90 days before markets gain more clarity on global tariff negotiations, Enmanuel Cardozo, market analyst at real-world asset tokenization platform Brickken, told Cointelegraph.
“With money flowing out of Bitcoin ETFs, investors are looking for safer spots to hold their cash right now, including strong currencies. Gold’s a traditional vehicle in these cases and a go-to when markets are uncertain,” he added.
BTC, gold, year-to-date chart. Source: Cointelegraph/TradingView
Since the beginning of 2025, the price of gold has risen over 23%, outperforming Bitcoin, which has fallen by more than 10% year-to-date, TradingView data shows.
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The US Securities and Exchange Commission (SEC) and crypto exchange Binance have asked a US federal judge for an additional two-month pause in their nearly two-year legal battle.
“Since the Court stayed this case, the Parties have been in productive discussions, including discussions concerning how the efforts of the crypto task force may impact the SEC’s claims,” both parties said in an April 11 joint status report with the US District Court for the District of Columbia.
SEC requests Binance to agree to the extension
According to the filing, the SEC requested and Binance agreed to another 60-day extension as the regulator continues to seek permission to “approve any resolution or changes to the scope of this litigation.”
“The Defendants agreed that continuing the stay is appropriate and in the interest of judicial economy,” the filing said.
The request comes not long after the SEC dropped a string of crypto-related lawsuits against crypto exchanges Coinbase, Kraken, and Gemini, as well as Robinhood and Consenys.
At the end of the 60-day period, the SEC and Binance plan to submit another joint status report. This marks the second 60-day pause the SEC and Binance have requested this year, following a previous extension granted by the judge on Feb. 11.
The recently launched crypto task force was a key reason behind the request for the second extension. Source: CourtListener
The request in February came just days after crypto skeptic Gary Gensler stepped down as SEC chair on Jan. 20, with crypto-friendly SEC commissioner Mark Uyeda taking over as acting chair.
At the time, the SEC and Binance also cited the establishment of the SEC’s Crypto Task Force as a reason for the pause.
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Formed just a day after Gensler resigned on Jan. 21, the task force said it aims to “help the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously.”
The SEC’s legal battle with Binance has dragged on for almost two years. It began in June 2023 when the agency filed a lawsuit against Binance, its US platform, and CEO Changpeng “CZ” Zhao.
The US regulator pressed 13 charges against Binance, including unregistered offers and sales of the BNB and Binance USD tokens, the Simple Earn and BNB Vault products, and its staking program.
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A fast-tracked temporary crypto regulatory framework could bolster innovation within the US crypto industry while permanent regulations are still in the works, says acting US Securities and Exchange Commission (SEC) chair Mark Uyeda.
“A time-limited, conditional exemptive relief framework for registrants and non-registrants could allow for greater innovation with blockchain technology within the United States in the near term,” Uyeda said at the SEC’s April 11 Crypto Task Force roundtable titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading.”
Relief measures may address immediate challenges
Uyeda said this might be the short-term answer as the SEC works toward a “long-term solution,” at the roundtable with SEC members and crypto industry executives, including Uniswap Labs’ Katherine Minarik, Cumberland DRW’s Chelsea Pizzola, and Coinbase’s Gregory Tusar.
He flagged state-by-state regulation of crypto trading as a concern, warning it could lead to a “patchwork of state licensing regimes.”
Uyeda said that a favorable federal regulatory framework would ease the burden for market participants wishing to offer tokenized securities and non-security crypto assets, allowing them to operate under a single SEC license instead of navigating “fifty different state licenses.”
He urged crypto market participants to share feedback on areas where “exemptive relief” could be appropriate.
Uyeda also reiterated the benefits of blockchain technology in financial markets during the roundtable discussion.
“Blockchain technology offers the potential to execute and clear securities transactions in ways that may be more efficient and reliable than current processes,” Uyeda said.
Uyeda to fill chair position until Atkins is sworn in
“Blockchains can be used to manage and mobilize collateral in tokenized form to increase capital efficiency and liquidity,” he added.
Uyeda will continue serving as acting SEC chair until US President Donald Trump’s nominee, Paul Atkins, is officially sworn in.
On April 10, the US Senate confirmed Atkins as chair of the SEC in a 52-44 vote largely along party lines.
Related: SEC, Ripple file joint motion to pause appeals in XRP case
Uyeda has served as acting SEC chair since Jan. 20, succeeding former chair and crypto skeptic Gary Gensler. He’s been widely seen within the industry as a pro-crypto advocate.
On March 18, Cointelegraph reported that Uyea said the SEC could change or scrap a rule proposed under the Biden administration that would tighten crypto custody standards for investment advisers.
“I have asked the SEC staff to work closely with the crypto task force to consider appropriate alternatives, including its withdrawal,” Uyeda said.
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