Brexit May Push Bitcoin and FinTech Companies Out from Britain
As Britain plans to exit from the European Union, London-based fintech companies plan to exit Britain. There have been discussions about the United Kingdom exiting from the European Union for a while now. Most of us know that the European Union is not doing that great when it comes to the economy. Many EU countries have been suffering from economic slowdown for years. Greece has been in financial ruins for years now, France is not doing so good either, Germany, Netherlands and rest of the Europe are affected by the counter-sanctions imposed by the Russian Federation. The United Kingdom has....
Related News
The battle for the world’s fintech hub after the Brexit vote is still clouded by uncertainty, but time is running out. On September 16, the UK Prime Minister Theresa May told the European Council President Donald Tusk that Britain would likely begin the process of withdrawal from the EU in January or February 2017. This comment may heat up the battle of which city is likely to become the world’s fintech hub. Many banking and/or financial related startups have been considering the move to mainland Europe, but the uncertainty surrounding as to when and how the roll-out of Brexit will take....
The CEO of TransferWise, a money transfer company that is among the most successful FinTech startups in Europe, has said at a conference in London that it will be removing its European headquarters from the English capital to maintain access to the single market after Britain leaves the European Union (EU) in two years. Speaking at the International Fintech Conference in London, Taavet Hinrikus, who co-founded TransferWise with Kristo Kaarmann, in 2011, said that due to Brexit if they were to restart they would not pick Britain as its location choice. A report from Reuters states that....
Sweden has emerged as a favorable alternative to fintech companies planning to set up base in EU following Brexit. With Brexit around the corner, Sweden could present itself as one of the alternative destinations for the European financial industry. The upcoming Brexit has turned into a speculator’s game. Britain’s exit from the European Union is expected to have a divisive effect on the country’s thriving finance and financial technology sector. All the efforts put in by the City of London to foster a healthy fintech ecosystem may go to waste as companies risk losing free access to the EU....
Britain will vote on the European Union Referendum on Thursday when millions of people will decide whether or not to stay in the EU. If Britain decides to leave, though, it could cost the UK economy as much as $5 billion over the next five years, according to a report conducted by consultancy William Garrity Associates. When it comes to the Brexit campaign there seems to be one theme consistently circulating: that EU regulation is stifling those who want to branch out on their own and make a name for themselves in the world of business. Naturally, you would think then that the FinTech....
UK's bustling fintech sector may soon be a history if the country doesn't introduce an alternative to EU passporting regulations. Britain’s digital currency ecosystem is in peril. The impending collapse of Britain’s fintech ecosystem has already been covered on multiple occasions. A recent report published by the House of Lords committee reinforces the industry’s perilous position post-Brexit vote. The report addresses the threat to over 7 percent of UK’s GDP as the UK fintech sector, headquartered in London currently employs over 1.1 million people from across the world. The report titled....