Various countries around the world are looking at ways to give Bitcoin and other virtual currencies a properly defined regulatory framework. While these talks and decisions will not materialise in the next few months, Scotland could be one of the first countries to create their own virtual currency. At least, that is what UK think-tank New Economics Foundation is proposing.
Own Bitcoin Clone to Solidify Independence?
The entire world, including a large part of the Bitcoin community worldwide, was eagerly looking forward to the Scottish independence referendum of last year. Scottish government officials felt it was an opportune time to become an independent nation, rather than being tied to the United Kingdom. An independence referendum was held, but despite it not being a success, debates about creating a self-sustained currency other than Pound Sterling have still not subsided.
“The fear of losing the pound was one of the decisive factors in the eventual result. But Scotland wouldn’t have to give up Sterling to introduce its own currency. And in fact, Holyrood [the Scottish parliament] already has the powers to introduce a new currency and payment system, which could operate