UK


UK
Experimenting with blockchain

Some banks permit

Britain:

  • The Financial Conduct Authority (FCA) requires crypto companies to apply for an e-money license before operating to comply with regulations
  • Many analysts believe the FCA is seeking positive regulatory changes with the goal to attract cryptocurrency investors to the UK
  • The governor of the Bank of England, is skeptical about cryptocurrencies in England but believes that “placing regulations and standards in the market is the most effective way to protect financial institutions,“ rather than banning crypto transactions.

Scotland:

The Royal Bank of Scotland rejects crypto-related accounts and warns investors to avoid investing in Bitcoin, characterising the crypto market as a ‘frothy investment bubble.’

Ireland:

  • In 2014, Ireland established its own cryptocurrency— Irishcoin. The intention is to promote tourism.
  • Ireland’s –°entral Bank hasn’t presented any regulations yet, except that cryptocurrency transactions are dependent on taxation like stocks and bonds under the country’s tax code.
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