How Bitcoin Could Save London Banks After Brexit

  • The technology could mean banks would not necessarily have to move to the EU.
  • As many readers already know from previous articles, I am skeptical about the idea that Brexit would leave the U.K. economy relatively unharmed.
  • If you remember, the European Central Bank insisted in a rule issued in 2011 that clearing of euro-denominated trades should be done in countries that have the euro as their currency.
  • A bit of context: one of the main reasons why virtually all the big banks in London — the City, as London’s financial services sector is known — supported remaining in the European Union is the fact that clearing of euro-denominated trades must be done within the E.U. Leaving the E.U. will deal a blow to the U.K.’s financial services.
  • I simply doubt that leaving the world’s biggest trading block can be achieved while keeping all the advantages — free movement of goods, services and capital — and rejecting what the proponents of Brexit see as a disadvantage — free movement of people.

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@ReSinanian: “How Bitcoin Could Save London Banks After Brexit – TheStreet”


The technology could mean banks would not necessarily have to move to the E.U.


How Bitcoin Could Save London Banks After Brexit