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Topic: Could London become the capital of cryptocurrencies? - page 2. (Read 1813 times)

newbie
Activity: 57
Merit: 0
Yes, but I see the Swiss city Zug in the pole position.
sr. member
Activity: 406
Merit: 250
i guess most people here undervalue the impact of such news. in my view that bigger than "xy accepts bitcoin". the regulation is the key.


The UK Digital Currency Association hailed the new guidelines as "some of the most sophisticated and forward-thinking issued by tax authorities anywhere in the world."

The move gave further legitimacy to digital currencies and it was even suggested it could lead to a "gold rush of digital currency businesses to the UK".


Yes. It is the nature of governments to regulate so the idea of them leaving it alone is a pipe dream. I just hope they tread lightly and intelligently with the regulations they do come up with.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
i guess most people here undervalue the impact of such news. in my view that bigger than "xy accepts bitcoin". the regulation is the key.


The UK Digital Currency Association hailed the new guidelines as "some of the most sophisticated and forward-thinking issued by tax authorities anywhere in the world."

The move gave further legitimacy to digital currencies and it was even suggested it could lead to a "gold rush of digital currency businesses to the UK".
legendary
Activity: 826
Merit: 1002
amarha

Nope. A true cryptocurrency should never have a capital.
Bitcoin and cryptos don't need capitals, they are built to be free, like a bird in the sky, like a cow on the hills, like women in the kitchens.

Why not? What's wrong with a city embracing bitcoin and having enough merchants and services to be considered the (unofficial of course) capital of bitcoin? I would love a place like that. Some where you can go and know that you can support your self just on bitcoin.
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
Tax rates are too high in London, and the rules regarding Bitcoin are too vague. Also, Bitcoin-based firms in London will have to obey the EU rules on money laundering and currency exchange. So... overall not much of a chance.  Angry

Tax rates are HUGE in london and they will never be the 'capital' of Bitcoin or any other coins.
full member
Activity: 196
Merit: 101
Bitcoin and cryptos don't need capitals, they are built to be free, like a bird in the sky, like a cow on the hills, like women in the kitchens.
sr. member
Activity: 459
Merit: 250
sr. member
Activity: 406
Merit: 250
Tax rates are too high in London, and the rules regarding Bitcoin are too vague. Also, Bitcoin-based firms in London will have to obey the EU rules on money laundering and currency exchange. So... overall not much of a chance.  Angry

Still though positive opinions by a government body is good for bit coin's legitimacy.
legendary
Activity: 3808
Merit: 1219
Tax rates are too high in London, and the rules regarding Bitcoin are too vague. Also, Bitcoin-based firms in London will have to obey the EU rules on money laundering and currency exchange. So... overall not much of a chance.  Angry
legendary
Activity: 826
Merit: 1002
amarha

It's good to see some positive talk from them regarding setting up a welcoming environment for innovative bitcoin companies. But I'm always skeptical that things like this will work out as well as some people intend them too. There's definitely going to be some resistance. And since like it says in the article "FCA has not yet made its official position on cryptocurrency clear" we'll just have to wait and see what happens.
sr. member
Activity: 406
Merit: 250

If they do it right they will be the economic capital of the new world economy. I hope they tread lightly with the regulations.
sr. member
Activity: 476
Merit: 250
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