Former UK chancellor faces investigation over lobbying allegations.

A vocal crypto advocate who served as Chancellor of the United Kingdom from 2016 to 2019 may have breached lobbying laws against ex-servicemen.

In the year The claim is based on Treasury documents obtained through a Freedom of Information Act request.

According to the report, Glenn told officials in an internal email to use Hammond as Tokarev's go-between. A week after the Treasury officials met with Tokarev, Hammond contacted Glenn by phone, informing him that the copper CEO had been pleasantly surprised by the meeting. Hammond informed the Treasury Secretary that the pace of regulatory changes for crypto companies is a concern for copper.

Related: UK risks losing AI race amid security-over-opportunity approach

All that happened before Hammond officially joined Copper as a senior adviser in August 2021. When Hammond steps down as chancellor in July 2019, Hammond will have to seek permission from the Business Appointments Advisory Committee to take up any post in the private sector. For lobbying efforts with the former dept.

Hammond told the FT that he did not consider his relationship with Glenn to be lobbying in the spring of 2021 and that he had not asked the economy secretary to facilitate any meeting between the Treasury and copper, as it was not relevant. The former chancellor described a March 2021 phone call to Glenn as a “regular, if not frequent, contact” with a “close political friend”.

A spokesman for the UK's Treasury said in a statement that a mistake had been made, saying that Treasury officials “meet with many crypto companies every year to better understand the sector and ensure policy development is affordable and secure”.

In June 2022, Hammond publicly expressed concerns that the UK was slipping behind its rivals in the EU. The former official said that while the country has been “very efficient in adopting new technologies” in the past, this has not been evident when it comes to crypto regulation, possibly due to a mix between “bandwidths”. ” and “capacity problem”.

Magazine: Crypto+AI token picks, AGI ‘takes a long time', Galaxy AI to 100M phones: AI Eye