UK Labour Peer Apologizes for Promoting Cryptocurrency Company in Violation

Former Secretary General of the UK Labour Party and current member of the House of Lords, Iain McNicol, has publicly apologized for breaching the parliamentary code of conduct. An investigation revealed that in June 2023, McNicol sent a letter to the Treasury promoting the cryptocurrency company Astra Protocol while he was receiving a monthly advisory fee from the company. House of Lords Standards Commissioner Margaret Obi determined that this constituted "providing paid parliamentary services," violating the code of conduct for members of parliament.