Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
http://qz.com/670708/the-british-government-is-considering-paying-out-research-grants-with-bitcoin/
how come this news doesnt affect bitcoin price in positive way
...
how come this news doesnt affect bitcoin price in positive way
...
Two words - British banks! Researches receiving grants in BTC are going to encounter problems with it. They're going to need to spend GBP at some point, and they'll need to explain to their bank where the money came from.
The government has been fairly positive about crypto (opportunity for British businesses, enterprise, innovation - the usual reasons). Our banks... not so much. There used to be GBP exchanges (Britcoin, then Intersango, maybe a few others). No more. When I buy BTC via Localbitcoin I usually have to use something like "ebay purchase" as the reference for the seller's bank. I'm not convinced recipients of government grants are going to be comfortable doing that... even if they are, their auditors won't be.
(Behind the scenes British banks are interested in the blockchain. They just don't want us using that nasty magic internet money associated with the blockchain, however).
but surely if Gov paying out research grant with bitcoin, they dont need to explain anything to the bank. its a Gov research grant
http://cointelegraph.com/news/uk-regulators-declare-start-of-beautiful-friendship-with-bitcoin-ethereum
The United Kingdom is widely recognized as the most welcoming regulatory environment for Fintech companies.
The United Kingdom is widely recognized as the most welcoming regulatory environment for Fintech companies.
A bit more cheerful than Russia then. They've really got to get some banks to play though. Hopefully Fidor are going to do something but they may well be frozen out by the biggies.
Bitcoin Payments Company Circle Scores Partnership With Barclays and E-Money License for UK Expansion
Bitcoin Bank Circle announced that people in the U.K. can now experience social payments over the open Internet in their native currency, pound sterling (GBP), using Circles updated apps for Android, iOS and the Web. The company was granted an e-money license by the U.K. Financial Conduct Authority.
make GBP payments instantly, with zero fees
Circle also announced that its eliminating transaction and withdrawal limits for customers in all of the 150+ countries where Circle is available.
According to The New York Times, this is the first time that a large global bank has agreed to work with a Bitcoin company.
lol