[2015-04-11] CTUK: Coinbase set to be the First UK Regulated Exchange

[CoinTelegraph UK]

While the United Kingdom seems to be leading the way globally in regards to digital currency regulation, we have yet to get a major exchange based here where you don’t have to use SEPA to transfer money to purchase your Bitcoin. Coinbase looks to be on track to change all this.

http://cointelegraph.uk/news/113928/coinbase-set-to-be-the-first-uk-regulated-exchange

[dquancey]

The UK is in desperate need of a decent exchange, although it's fairly easy to purchase BTC here, a decent exchange would change that.

[Brother Darkness]

The UK is in desperate need of a decent exchange, although it's fairly easy to purchase BTC here, a decent exchange would change that.

We have bittylicious though it's not strictly speaking a exchange but does the same thing. You pay a premium on coins too so a proper legit exchange will be nice. I''ve been using btc-e but I'm not even sure if its legal in the UK because of aml laws etc.

[CoinTelegraph UK]

The UK Government is most definitely pro Bitcoin, if you read the part in the article where the Chief Executive Brian Armstrong is quoted in The Times saying the talks have been ongoing for “at least six months” this would bring us back to at least November of 2014, long before the release of their report during the budget last month.

[dquancey]

The UK is in desperate need of a decent exchange, although it's fairly easy to purchase BTC here, a decent exchange would change that.

We have bittylicious though it's not strictly speaking a exchange but does the same thing. You pay a premium on coins too so a proper legit exchange will be nice. I''ve been using btc-e but I'm not even sure if its legal in the UK because of aml laws etc.

Never used bittylicious, but sure there are some kind of limitations when buying.

[gentlemand]

Bittylicious is superb and I've used it a lot but it's far from being an exchange.

I'll be very curious to see how Coinbase pull off a banking relationship. You can have all the regulation you like but it counts for nothing unless the banks want to play with them.

I guess they are a lot bigger and sleeker than anyone else who attempted it. They may also be hopelessly overconfident and never manage it.

[Lethn]

I use LocalBitcoins for my small time trading, I've seen CoinCorner around and I have a verified account but since I don't really do big transactions I haven't had any need for them yet. I'm reserving my opinion at the moment about UK regulation, they seem to be looking into things but I'm not getting my hopes up that they'll do anything sensible.

[gigatux]

I'll be very curious to see how Coinbase pull off a banking relationship. You can have all the regulation you like but it counts for nothing unless the banks want to play with them.

I guess they are a lot bigger and sleeker than anyone else who attempted it. They may also be hopelessly overconfident and never manage it.

This is the crux of the matter. Even those that have managed to get a banking relationship haven't managed to secure it for long (e.g. Safello).

Honestly, the "regulation" bit is mostly nonsense and really just marketing speak (in my opinion, considering the FCA don't regulate Bitcoins and there basically is none). However, a banking relationship will change the game if it is sustainable.

[dasource]

About time ... Let's see if they manage to retain a relationship so that faster payments can be used.

[Kaneki]

it is time to move to a more rapid means of payment,i hope many country can follow this.

[ashour]

Interesting market approach by coinbase. They try to control and dominate the bitcoin space and bitcoin exchange business, like facebook tries to control the social media space. Coinbase will probably launch  more exchanges after UK worldwide. This will be interesting. 

[indiemax]

Load of fluff and hype

it will get mine and a lot of others attention, when a REAL banking relationship with a UK bank is established

enabling payments instead of closing and  blocking accounts because you have brought Bitcoin

can't see UK government pushing UK banks to do this although they say they are Bitcoin friendly 

[gentlemand]

can't see UK government pushing UK banks to do this although they say they are Bitcoin friendly 

They couldn't even get the banks to lend to viable small business when they needed it, and that was when the government owned a big chunk of the banks. They'll do what serves their interests and no one else's.