Topic: How Brexit will impact bitcoin - page 2. (Read 530 times)

The UK has been one of the most popular destinations.

Basically, all the influences of Brexit will be focused on the London financial services industry.

Uncertainty around how Brexit can influence the regulation of cryptocurrency and investing in it, since trade with the EU and the UK will become much more expensive and more difficult.

The British government is considering the need to regulate Blockchain and control the industry from the Financial Conduct Authority (FCA).

Brexit is not likely to impact bitcoin in anyway. The severance of UK from the European Union has previded UK with more opportunities regarding cryptocurrency reforms.

I want to know, what is the basis for Brexit affecting the Bitcoin market flow? I really did not understand and became a little confused. But I am sure it will have no impact at all. According to my understanding.

To be honest i cant believe that it hasnt impacted bitcoin pricing so far.
BREXIT is massive and there are problems in creating a solution to some
issues. If there is a "no-deal" the economy is going to suffer which is
looking like the likely scenario ATM. So in theory i would have expected
a lot of sterling to go into bitcoin.

More reading >

https://www.scotsman.com/news/rbs-boss-says-no-deal-brexit-could-spark-recession-1-4809644


https://www.irishexaminer.com/breakingnews/business/rbs-boss-warns-no-deal-brexit-could-lead-to-recession-873479.html

for example? i'm asking becouse i can't really think at only one implications.

I'm pretty sure that the pount will not lose enought power to make people exchange pound to bitcoin..

brexit , tell you what , if this happens as it looks like it shall then they may need blockchain and fast , the estimate is that data recording and audits will rise 500% because of brexit , thats a lot of extra paperwork to do , cost them a fortune

hello Factom

The Brexi it self was never a solution to the challenges faced between the bitcoin and the UK government, but what I think is that in the near future their will still come up with a new method just to effect changes in the bitcoin market. But as at now the Brexit will not have direct effect on bitcoin price and progress.

Only if they don't experience money shortages thanks to EU sanctions.  The EU can't stop GB from moving out but it can make the journey unpleasant, starting with with the so called EU divorce bill. Last time I checked Britain was to pay the EU something between 20 and 40 billion € and even if it leaves in 2019 it will have to keep paying its normal contributions until the end of 2020. They may find it difficult to keep taxes low at this point.

Bitcoin is international,brexit has nothing to do with it.But if GB ban crypto just like South Korea did then we need to discuss it.Right now,GB is still in europe

don't quite understand how these 2 news can there be?

If I read in domestic stock groups and foreign stocks, England Brexit will not affect Cryptocurrency. if the UK wants a BREXIT, then all that will only reduce the purchasing power of the product itself. and moreover, Cryptocurrency is not centered on shares in a country. So Bitcoin will remain safe and will not be affected by Brexit England.

Any major political or economic change affects currencies and other high-value assets, bitcoin, as well as assets, which are subject to fluctuations.

alot of people in this topic are thinking about the price (facepalm) impact

but when you seen facebook slowly move parts out of america and is done in the uk
more of american facebook stuff will move out of america and into the UK because labour costs are better

other businesses will start up. UK could end up being the next palo alto

It is highly unlikely that brexit will affect the world economy to any major degree, and as such it probably wont dent the crypto economy.

It's not like the UK is the major player in the cryptosphere.

It won't. Brexit will have no bearing on bitcoin use, bitcoin development or bitcoin price. Give me any good reason it might make a difference.

I believe the Brexit will benefit the UK immensely.

Most of the cutting edge financials services are located in the UK nowadays.
Monese. Revolut. Wirex. How many more am I missing ?

As things are evolving today, the UK post-brexit may very well become a tax-heaven of choice for the EU citizens and companies, since they aren't subject to the EU rules anymore.

As there aren't any significant exchanges in the UK i doubt brexit will have any impact. Binance is in Malta and the other top exchanges are in East Asia. Coinbase setup an office in the UK but it is new and has no real significance there.

I don't see any implications of Brexit towards bitcoin. Perhaps in stock markets and mutual funds and other assets concerning EU and UK but bitcoin? Their economy (UK) might weaken for the first part of the separation but that's about it; all cryptocurrency-related trades are not heavily associated with UK's economy, and as such, there'll be a direct or indirect impact on bitcoin with this decision. Foreign relations, forex, stock markets and the likes would be greatly affected, but never the cryptocurrencies especially bitcoin.

though the UK has its own legislation that mirrors EU legislations currently. thus no actual need to change much on brexit day

but after brexit there will be more freedom to allow parliament to start amending legislation to what parliament seems fit for them. and its at these times of new bills/amendments they normally would slip in amendments mixed in with other bills.
so we could see some regulations being added/removed/amended either openly or hidden in the mix of multiple amendments hidden in big bills

the forex exhcnage between GBP/euro will change as will GBP/USD.
we seen it a few years ago when the IMF added CHY to its SDR. many thought it had nothing to do with GBP but it did impact
and also with just announcing brexit caused movement in both gbp/euro and gbp/dolar, but thats more effecting the forex markets

this would have been a good time to instead of valuing bitcoin vs USD. it could have been btc vs minimum wage.
that way no matter where people live or what forex does, people know they only have to pay the equivalent of under 1000 labour hours.

which could be revolutionary because people could play th forex markets to get the best bitcoin deals, thus impacting forex and actually affecting wall street.. but thats a whole different scenario/idea for another discussion

i know people think that if the UK exchange rate to lets say USD is worse. EG less dollar per pound = disney holiday gets more expensive.. i see this as a good thing.

firstly the flip side. less dollar per pound = more pound per dollar. so this means the US can buy more from the UK cheaper. meaning they will buy more from the UK.
we will see U.S company outsourcing their call centres and remote services to the UK because we(british folk) can offer more for less.
we can start making things again because its more expensive for brits to import.
we will become more exporter than importer

so we could see the UK becoming a better prospect for crypto businesses looking for better labour costs than the usa

The Brexit was, despite the campaign that led to it, entirely unexpected, and there are a lot of puzzling implications for the Bitcoin