Due to its long struggle with the Brexit, the U.k economy seems to be thrown in a state of confusion and disorder. However, experts believe that this situation could actually be beneficial for cryptocurrencies, and especially Bitcoin, which may spike in this environment.
As the global climate and the conditions of the Brexit are getting more uncertain and complicated, British citizens and investors seem to be more anxious and worried about the physical economy which justifies their increased interest in the crypto-market. In this context, the chief executive officer of Digital Securities Exchange; Mike Rymanov; confirms that by saying:
“Britain is already looking at how it can maintain its dominance in financial services post Brexit, even as some major players abandon ship ahead of March next year. As such, crypto could present a big opportunity”.
Better cryptocurrency regulations after the Brexit:
The Brexit will help the U.K to maintain it’s financial hub status, but more importantly, the country will be freed from the bureaucratic process which has always posed a challenge to the growth of cryptocurrencies.
Further, the Brexit will allow the U.K to apply its own rules regarding the cryptocurrencies and turn this country into an attractive regulated crypto friendly environment for citizens and investors looking to diversify their portfolios and secure their assets, it may even allow it to build new and innovating blockchain/cryptocurrency partnerships.