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Government drops call-in power amid crypto donor concerns

Arguably it would be better if, in exceptional circumstances, ministers overrule regulators publicly after providing proper evidence for their decision, rather than behind closed doors

By David Wighton
Industry regulators are so important, it is unrealistic to expect politicians not to interfere from time to time, for the right or the wrong reasons
Industry regulators are so important, it is unrealistic to expect politicians not to interfere from time to time, for the right or the wrong reasons Photo: Getty Images

Following the spectacular implosion of FTX, those digital asset fans who had been complaining about UK financial regulators’ cautious attitude to crypto have gone a bit quiet.

Had the Financial Conduct Authority been more welcoming to crypto firms including FTX, many more UK investors might be facing much bigger losses.

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