The British Exit, or Brexit, is a term established to refer to the United Kingdom’s decision to leave the European Union after a referendum was held on June 23, 2016. Brexit’s results greatly influenced global markets and the British pound, and prompted changes in the establishment and foreign policy of the UK. Brexit predictions were disproven when 51.9% of the UK’s population voting to leave, with a turnout of 72.2%. Brexit will have both long-term and short-term consequences related to the economy, immigration and higher education of the UK. The positive side of leaving the EU is that the UK has ridden itself of Brussel’s bureaucracy and has gathered more autonomy and opportunities to establish more efficient policies. From this perspective, Brexit is good for Bitcoin, making the UK’s cryptocurrency policies more flexible. On the contrary, the UK won’t be able to participate in EU decision-making as they did at their previous level, which is dangerous given that the EU is the largest destination for exports from the UK.
Hammond was a United Kingdom Conservative MP for 22 years until a Brexit-fueled uprising left him and others omitted from the party two years ago.
UK’s Ex-Chancellor Philip Hammond to advise crypto firm Copper
The United Kingdom no longer has the choice but to adapt to the post-Brexit times, making digital finance one of its priorities.
Brexit and fintech: A spring stocktake
Could a digital pound accelerate Britain’s growth post-Brexit and retake London’s status as the European financial hub?
Can a digital pound CBDC retake London’s financial hub status post-Brexit?
A mountain of fresh U.S. debt contrasts with a mountain of institutional cash potentially set to flow into Bitcoin thanks to major FOMO.
New US stimulus, Brexit and $20K: 5 things to watch in Bitcoin this week
Bitstamp confirms migration of European clients.
Bitstamp crypto exchange migrates European clients from UK
Many fintech companies chose London because of its strong financial regulation, but how will Brexit affect the industry in Europe and the U.K.?
Fintech in the United Kingdom After Brexit
The United Kingdom has included a mention of the blockchain industry in its pre-negotiation agenda for a Free Trade Agreement with the United States.
UK Gov’t Includes Blockchain in Negotiation for US Free Trade Agreement