London’s Bitcoin And Blockchain Nightmare Could Be Coming True
Bitcoin, cryptocurrency and blockchain startups exploded onto the London financial technology scene over the last few years, but now, due to a combination of potentially tougher new regulation and the UK’s looming exit from the European Union, things could be about to take a turn for the worse for the fledgling bitcoin and crypto sector.
The U.K.’s prime minister, Boris Johnson, who has taken over from Theresa May after she spent two fruitless years trying to negotiate a Brexit deal with the E.U., has steered the country towards a feared so-called no-deal Brexit scenario, potentially causing chaos–though perhaps boosting the bitcoin price.
While Johnson has clashed with the U.K.’s parliament over the possibility of a no-deal Brexit, it remains on the table, fueling business uncertainty.