City watchdog ex-chair says he faced ‘political pressure’ to let in crypto firms

The pressure the Financial Conduct Authority was put under is an example of the influence politicians can have on regulators, according to Charles Randell. Photograph: Toby Melville/Reuters

The UK’s financial watchdog came under “political pressure” to welcome crypto firms into the British market, its former chairman has said.

Charles Randell, who stepped down as chairman of the Financial Conduct Authority (FCA) in the spring, said it was an example of the kind of influence that elected politicians have tried to exert on independent regulators.