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Topic: UK Government: Carefully Taking Steps Towards Regulating Exchanges (Read 1642 times)

legendary
Activity: 1316
Merit: 1481
Well seeing the following in the report.

Could the UK become the world’s bitcoin capital?

The recently revealed regulations are supposedly aiming to “promote competition and innovation in payment systems”. In fact, we have been getting signs that the UK officials want to help the country come closer to becoming the world’s capital for digital currencies. In fact back in August 2014, The UK Treasury revealed that it’s looking to turn the UK into a centre for virtual currency trade.

It actually looks a good thing and UK governments and regulation will be a good thing in some ways.  it could limit innovation and start-ups no doubt about that with limits in place if they are going to limit the amount that can be sent or transfers in one go. Then again if more exchanges come about that are regulated and licences within the UK then this will also be a good thing and indeed could become a nice capital for crypto people to use within and out side the UK. Will be interesting to see what happens this year on what gets ruled and what regulations if any get put into place.

I'd be very curious to see how they'd get the banks to play nice. They often claim regulatory uncertainty, but the government couldn't get them to up their lending to small businesses, let alone provide accounts to business models that rub them up the wrong way.

Banks can pick and choose who they deal with even with bulletproof regulations.

I totally agree. Regulation sound nice but to me it seems nice only theoretically.

Quote
Banks can pick and choose who they deal with even with bulletproof regulations.
So true
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
Well seeing the following in the report.

Could the UK become the world’s bitcoin capital?

The recently revealed regulations are supposedly aiming to “promote competition and innovation in payment systems”. In fact, we have been getting signs that the UK officials want to help the country come closer to becoming the world’s capital for digital currencies. In fact back in August 2014, The UK Treasury revealed that it’s looking to turn the UK into a centre for virtual currency trade.

It actually looks a good thing and UK governments and regulation will be a good thing in some ways.  it could limit innovation and start-ups no doubt about that with limits in place if they are going to limit the amount that can be sent or transfers in one go. Then again if more exchanges come about that are regulated and licences within the UK then this will also be a good thing and indeed could become a nice capital for crypto people to use within and out side the UK. Will be interesting to see what happens this year on what gets ruled and what regulations if any get put into place.

I'd be very curious to see how they'd get the banks to play nice. They often claim regulatory uncertainty, but the government couldn't get them to up their lending to small businesses, let alone provide accounts to business models that rub them up the wrong way.

Banks can pick and choose who they deal with even with bulletproof regulations.
legendary
Activity: 3248
Merit: 1070
regulation is good actually, because it allow normal people to have more trust in bitcoin, this will lead to an increase in buying by the average person, thus rising the price in the long-term

regulation is the best promotion for bitcoin
legendary
Activity: 1820
Merit: 1001
Well seeing the following in the report.

Could the UK become the world’s bitcoin capital?

The recently revealed regulations are supposedly aiming to “promote competition and innovation in payment systems”. In fact, we have been getting signs that the UK officials want to help the country come closer to becoming the world’s capital for digital currencies. In fact back in August 2014, The UK Treasury revealed that it’s looking to turn the UK into a centre for virtual currency trade.

It actually looks a good thing and UK governments and regulation will be a good thing in some ways.  it could limit innovation and start-ups no doubt about that with limits in place if they are going to limit the amount that can be sent or transfers in one go. Then again if more exchanges come about that are regulated and licences within the UK then this will also be a good thing and indeed could become a nice capital for crypto people to use within and out side the UK. Will be interesting to see what happens this year on what gets ruled and what regulations if any get put into place.
Q7
sr. member
Activity: 448
Merit: 250
At the same time, there's was an article which is also relates to the budget and regulation thing that says the government is interested to explore the potential of crytocurrency and is willing to allocate a funding for the research. And that they were expressing their views concerning the potential that cryptocurrency holds. Can that be confirmed?
newbie
Activity: 1
Merit: 0
My take on yesterday's announcements: http://jackgavigan.com/2015/03/19/budget-2015/

I'm very interested in hearing what others in the Bitcoin eco-system think.
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