Former FCA Chair: UK Regulator Faced 'Political Pressure' to Welcome Crypto Firms
The former chairman of the UK's Financial Conduct Authority (FCA) has claimed that the agency faced "political pressure" to welcome crypto firms into the British market, despite evidence suggesting it "wasn't a very good idea." The FCA refused to allow cryptocurrency exchanges that are now facing criminal investigations to operate in the UK. At the time, this led to criticism that innovative activity was moving to other jurisdictions
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Former FCA Chair: UK Regulator Faced 'Political Pressure' to Welcome Crypto Firms
The former chairman of the UK's Financial Conduct Authority (FCA) has claimed that the agency faced "political pressure" to welcome crypto firms into the British market, despite evidence suggesting it "wasn't a very good idea." The FCA refused to allow cryptocurrency exchanges that are now facing criminal investigations to operate in the UK. At the time, this led to criticism that innovative activity was moving to other jurisdictions