The post FCA Chief Warns Against Hasty Crypto Regulation Amid Political Pressure! appeared first on Coinpedia Fintech News

The former head of the UK’s Financial Conduct Authority (FCA), Charles Randell, has said he felt political pressure to welcome crypto firms during his tenure. Randell warned against moving too fast in regulating the industry to ensure its protection and to prevent capture by industry or politics. The FCA has denied licenses to operate in the UK to crypto companies Binance and FTX, both of which are linked to ongoing litigation in the US. Most rejected applications have cited inadequate money laundering controls as the reason. A new bill designates crypto trading as a regulated activity.