New measures of British financial regulation to encourage bitcoin innovation
The Financial Services Authority (FCA) announced a new “action project innovation” to help domestic bitcoin industry last week. This marks the change of regulation, although not before the intervention has no negative effect. The bitcoin industry has been one of the most attractive countries.
The move is to promote the financial sector innovation and actively support bitcoin industry like this, FCA hope for the development of good and innovative companies to enter the field of bitcoin to create space. FCA chief executive Martin Wheatley released this initiative when answered questions about the electronic money industry, he admitted that the new development such as electronic money to finance “to use time measurement”.
The British attitude in the electronic currency issue is uncertain, but it did not affect the development of domestic bitcoin industry. Legal experts believe that the lack of supervision will make bitcoin industry problems.