It is pretty fair to say that when people think of regulatory bodies and governments in the crypto industry it not normally positive.
This time a leading UK lawyer Martin Bartlam, a partner at DLA Piper and one of the world’s leading legal experts in financial technology, says that the UK’s track record on cryptocurrencies had been “incredibly positive.”
“It’s almost hardest to see what [the UK’s] done, but in a way that is the beauty of it,” said Bartlam. “They’ve not made it more complicated, there’s no additional compliance or analysis that you need to do,”
“They’ve really kind of created an opportunity for people to do business the way they always did business using digital assets.”
“The U.S. is the interesting one,” After showing strong interest in cryptocurrencies, regulators in the biggest market in the world “have really struggled to present a clear policy in terms of what it is they’re trying to achieve.”
Not only is that “frustrating,” Bartlam said, it also makes it “harder for businesses to operate in the U.S. and other jurisdictions.”
So the UK is open for business! I believe that London is the centre of the financial world and this goes some way to help to keep the title. Even after Brexit kicks in maybe being the crypto hub of the world will help the capital London open for business.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
The market expects the resolution to this bottleneck convinced that without Bitcoin’s participation it will be difficult to consolidate gains in the Altcoin niche. But recent history does not support this theory.
Bitcoin and all major altcoins have been a mixed picture during European hours on Tuesday. The total market capitalization stays edged towards to $265 billion, average daily trading increased to $57 billion, while Bitcoin’s market dominance retreated to 69.1%.
Litecoin has retraced from Monday’s high of $73.86 to trade at $72.50 by the time of writing. The fifth-largest coin with the current market value of $4.58 billion has been range-bound with bullish bias on Tuesday.
The second-largest cryptocurrency with the current market capitalization of $21.4 billion stopped within a whisker of critical $200.00 during early Asian hours.
Bitcoin finishes the week with marginal losses. The first digital currency recovered from the recent low of $9,886 but stayed in the red zone as of the end of the week.