Britain’s Lead as Fintech Sector Hub Still Shaky Post-Brexit
Since Britain’s vote to leave the European Union in June, there have been several discussions surrounding London losing its spot as a leading global fintech hub. The topic became particularly interesting after Paris Europlace, which promotes French finance plans, chose to travel to London to entice financial firms and professionals. The French government agency, Business France, also distributed leaflets to promote the benefits of working and living in Paris. On the other side of the border, Frankfurt city officials set up a specialist hotline for banks that want to discuss moving....
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Britain’s Supreme Court has ruled against Prime Minister Theresa May stating that she does not have sufficient authority to enact Brexit alone, upholding a High Court decision that ruled it unconstitutional for Ms May to formally trigger Article 50 without first consulting MPs. According to Attorney General Jeremy Wright, who gave a statement after the Supreme Court Brexit ruling, he said that the Government was ‘disappointed’ by the decision to hand over power to Parliament in what many consider an historic battle, by a majority of eight to three. However, in a report from the....
The recent Supreme Court ruling requires the British government to get parliamentary approval before initiating the Brexit process, fintech industry faces uncertainty. Brexit is a crucial event for the fintech and blockchain sector. The post-Brexit world will decide the fate of the European Fintech ecosystem. But the separation of England from the European Union may not be happening anytime soon. According to reports, the English Supreme Court has ruled that the Prime Minister of Great Britain, Theresa May has to seek the approval of the parliament before setting the wheels of Brexit in....