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Bitcoin => Bitcoin Discussion => Topic started by: the founder on May 14, 2013, 01:55:27 PM



Title: UK Government to create Bitcoin Exchange
Post by: the founder on May 14, 2013, 01:55:27 PM


http://www.adaptiveglass.com/?p=760


Title: Re: UK Government to create Bitcoin Exchange
Post by: cypherdoc on May 14, 2013, 01:56:48 PM
Nice link


Title: Re: UK Government to create Bitcoin Exchange
Post by: johnblaze on May 14, 2013, 02:35:01 PM
that link is retarded, and so is this thread for reporting it as if it is noteworthy

actual quote:
Quote
"Also under consideration was the idea of creating a regulated exchange..."

article's conclusion:
Quote
"the United Kingdom is in the process of setting up their own Government regulated Bitcoin exchange."

fail


Title: Re: UK Government to create Bitcoin Exchange
Post by: yocko06 on May 14, 2013, 03:18:45 PM
that link is retarded, and so is this thread for reporting it as if it is noteworthy

actual quote:
Quote
"Also under consideration was the idea of creating a regulated exchange..."

article's conclusion:
Quote
"the United Kingdom is in the process of setting up their own Government regulated Bitcoin exchange."

fail
i think more to the point is the government have excepted bitcoin.. this is a good thing and i am glad i read this. your post was just a post for the sake of posting


Title: Re: UK Government to create Bitcoin Exchange
Post by: FlappySocks on May 14, 2013, 03:22:26 PM
http://www.ft.com/cms/s/2/42ca6762-bbfc-11e2-82df-00144feab7de.html#axzz2THTHmJC7

^^Much better story from the FT.


Title: Re: UK Government to create Bitcoin Exchange
Post by: btceic on May 14, 2013, 03:39:08 PM
http://www.ft.com/cms/s/2/42ca6762-bbfc-11e2-82df-00144feab7de.html#axzz2THTHmJC7

^^Much better story from the FT.

Quote
Also under consideration was the idea of creating a regulated exchange, which would be the world’s first. Such an entity would go some way to addressing concerns about criminality by requiring users to provide proof of identity. An unregulated exchange was set up in London in 2011 but closed a year later after its bank account was shut down.


Title: Re: UK Government to create Bitcoin Exchange
Post by: JackH on May 14, 2013, 04:19:38 PM
This is kinda jaw dropping if it happens. This will actually solidify Bitcoin as a real currency/commodity and finally give us a playing field of exchanging fiat QUICK and easy to real money. (for those that still dont know what real money is, then the magic answer is Bitcoin)  ;D


Title: Re: UK Government to create Bitcoin Exchange
Post by: BitshireHashaway on May 14, 2013, 05:03:28 PM
Woohoo, goodthing governments are taking action to help make bitcoins more popular.


Title: Re: UK Government to create Bitcoin Exchange
Post by: omgitsmehehe on May 14, 2013, 05:06:26 PM
Woohoo, goodthing governments are taking action to help make bitcoins more popular.

It is in their best interest so they can tax it....

I hope people never use exchanges run by gov's. You know... the people who quite literally control your monetary assets? Why let them take your bitcoins too?


Title: Re: UK Government to create Bitcoin Exchange
Post by: FlappySocks on May 14, 2013, 05:08:38 PM
You can bet regulated exchanges wont be as cheap to use as the existing unregulated ones.

Still, it will be a good thing overall.


Title: Re: UK Government to create Bitcoin Exchange
Post by: JackH on May 14, 2013, 05:55:55 PM
This is an amazing thing! Why you ask? Because all those that dream regulation will finally get into Bitcoin. That is HSBC, Barclays and hedge funds with billions behind them. Say hello to the bankers, they are our best friends to help us destroy their old world, lol


Title: Re: UK Government to create Bitcoin Exchange
Post by: cypherdoc on May 14, 2013, 06:19:08 PM
that's really bullish if the UK is actually considering starting a Bitcoin exchange, regulated or not.


Title: Re: UK Government to create Bitcoin Exchange
Post by: FlappySocks on May 14, 2013, 06:32:01 PM
Interesting times ahead.  At least the government don't appear to be naive enough to think they can ban bitcoin.
The genie is out of the bottle, so better to embrace it. Question is, how long before it becomes law.


Title: Re: UK Government to create Bitcoin Exchange
Post by: aquarius on May 14, 2013, 06:51:52 PM
sooo.. when are the British people going to start regulating their government into non-existence?


Title: Re: UK Government to create Bitcoin Exchange
Post by: Welsh on May 14, 2013, 06:53:49 PM
It's interesting on how they would go by this, I would like to ask who would actually use a regulated run exchange?
Would people prefer to use other non regulated or not?


Title: Re: UK Government to create Bitcoin Exchange
Post by: FlappySocks on May 14, 2013, 06:55:51 PM
A regulated exchange, not a government exchange.  Same way banks are.


Title: Re: UK Government to create Bitcoin Exchange
Post by: lunarboy on May 14, 2013, 07:10:07 PM
Just speculation, but if the Brits have seen the chink in out armour, they may attempt to build or just endorse a HMS -UK exchange. Presumably followed by a heavy crack down on (read: regulate into oblivion) all other exchanges, perhaps blocking or restricting any international exchanges.

ID verification to enter unique accounts and hence the potential to claim tax of wealth leaving the system.  

-- you bought 200BTC last year sir ... where are they now? because you've not been paying your capital gains tax.

Obviously this would be highly negative in terms of liberty,  but it would be a massive boost if not the final straw in terms of legitimacy

'Times 03/Jan/2015 Chancellor on brink of adopting Bitcoin as official currency for UK banks ...'  ;D


Title: Re: UK Government to create Bitcoin Exchange
Post by: wedgy2k on May 14, 2013, 07:10:52 PM
http://www.ft.com/cms/s/2/42ca6762-bbfc-11e2-82df-00144feab7de.html#axzz2THTHmJC7

^^Much better story from the FT.

Good article, I think they have to jump and get involved as the numbers involved demonstrates that BTC is not going away. The London Stock exchange is one of the premier exchanges globally, so why not enhance London's reputation for commerce with a "licensed" exchange.
Yes the tax returns etc will be tiresome but, "we all must die......and pay tax"


Title: Re: UK Government to create Bitcoin Exchange
Post by: IdiotHole on May 14, 2013, 07:28:43 PM
What advantages would a regulated exchange offer to the consumer over the current Gox/Bitstamp/etc?


Title: Re: UK Government to create Bitcoin Exchange
Post by: wedgy2k on May 14, 2013, 07:59:33 PM
What advantages would a regulated exchange offer to the consumer over the current Gox/Bitstamp/etc?

I'm no expert and I'm just expressing an opinion, but credible large money business would use a "Licensed" exchange.
Gox/Bitstamp would still survive nicely esp for the original reasons of unregulated anonymity. (Us filthy TAX Dodgers)


Title: Re: UK Government to create Bitcoin Exchange
Post by: aceking on May 14, 2013, 08:01:23 PM
What advantages would a regulated exchange offer to the consumer over the current Gox/Bitstamp/etc?


Exchange will not take your bitcoins and run  :)