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.
