UK financial watchdog urges political support for crypto bans

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By Huw Jones LONDON (Reuters) – Britain’s Financial Conduct Authority (FCA) on Tuesday called on lawmakers to show their support for its unpopular decision not to grant licences to scores of crypto exchanges like FTX, which has just collapsed. The FCA has come under pressure as 85% of licence applications from crypto trading firms have either been rejected or withdrawn, the watchdog’s chief executive Nikhil Rathi said. Crypto exchanges like leader Binance, and FTX, cannot operate in Britain as they don’t have FCA approval for their anti-money laundering controls. The FCA is set to have a new o…

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