This week was rich with events that may cause a change in the value of bitcoin. George Osbourne’s promise to make changes in the UK regulation system, the announcement of a new proof-of-concept Blockchain-based remittance services from Visa Europe, and of course, the Ethereum Devcon1 conference, could all positively effect the price of bitcoin.
Bitcoin Companies In London Consider George Osbourne To Regulate A Problem Of Opening Bank Accounts
UK Bitcoin companies face problems with opening bank accounts. Banks simply refuse to cooperate with startups involved with Bitcoin in any way. Naturally, this alarms Bitcoin-related companies as it may cause a certain number of problems in providing their services. George Basiladze, the CEO of Bitcoin wallet and exchange service Cryptopay.me based in London since 2013, told Cointelegraph:
“You may have favorable regulations and the FCA may support and license you, but if you cannot get a bank account (just a standard one) you cannot operate. This is easy. Not for BTC companies, though. If you say that you are doing anything connected to bitcoins and bitcoin exchange, you will not get a bank account in the UK. Banks do not like Bitcoin companies as they make their compliance