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Post: Former UK Chancellor, Lord Philip Hammond, Accused of Breaching Lobbying Rules in Crypto Firm Communication

Former UK Chancellor, Lord Philip Hammond, Accused of Breaching Lobbying Rules in Crypto Firm Communication

Key Points:

  • Lord Philip Hammond, former Chancellor of the Exchequer for the UK, may have breached lobbying rules for former ministers.
  • In March 2021, Hammond was involved in communication between the Economic Secretary for the Treasury, John Glen, and the CEO of crypto firm Copper, Dmitry Tokarev.
  • The claim is based on Treasury documents obtained through a Freedom of Information Act request.

Elaborate With Insight:

The Financial Times has reported that Lord Philip Hammond, who served as the Chancellor of the Exchequer for the United Kingdom from 2016 to 2019, may have violated lobbying rules for former ministers. In March 2021, he was allegedly involved in communication between the Economic Secretary for the Treasury, John Glen, and the CEO of cryptocurrency firm Copper, Dmitry Tokarev.

The alleged breach of lobbying rules came to light through Treasury documents that were obtained through a Freedom of Information Act request. The nature and extent of Hammond’s involvement in the communication is unknown at this time.

Hot Take:

If Lord Philip Hammond is found to have breached lobbying rules, it could have significant consequences for his reputation as a crypto advocate and former government official. This development also highlights the need for robust regulations and transparency in the cryptocurrency industry, particularly when it comes to interactions between government officials and industry representatives.

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