UK House of Lords MP apologizes for breach of contract by promoting crypto firm

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ChainCatcher news, according to The Guardian, Iain McNicol, former Labour Party secretary and current House of Lords member, publicly apologized for breaching parliamentary conduct guidelines.

The investigation revealed that McNicol sent a letter to the Treasury in June 2023 promoting the cryptocurrency company ASTR Protocol while receiving monthly consulting fees from the company. The House of Lords Standards Commissioner Margaret Obi determined this constituted "providing paid parliamentary services," violating the parliamentary code of conduct.

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