While bitcoin continues with its cyclic highs and lows, nothing gives it a boost more when Prince Charles, the British Throne Heir, comments and says it is an interesting development.
Prince Charles, was recently on a trip to Berlin, Germany when a bystander asked him his opinion on bitcoin. The questionnaire asked, “Prince Charles, what do you think of bitcoin?” At first, Prince Charles was confused and responded with “Ehh I don’t know about that.” When the questionnaire added words, like blockchain, cryptocurrencies, Prince Charles said, “Blockchain? Oh yes, very interesting development.”
Don’t @ me for saying bitcoinSsssss pic.twitter.com/wSvOkN0cuE
— CD 🚀 (@coindorado) May 7, 2019
While this is very interesting that even the Heir Apparent to the Throne has heard of blockchain and cryptocurrencies, Britain, for its part, is taking great strides towards cryptocurrency regulations.
In January this year, the financial regulatory body of the United Kingdom, Financial Conduct Authority (FCA), had released a paper on cryptoassets regulations specifically for cryptocurrency traders and the community at large.
Talking about the requirement of such a paper, the regulatory body had said, “We hope to clarify FCA expectations for firms carrying on cryptoasset activities within the UK. If a firm acts in line with this Guidance, the FCA will consider them to have complied with regard to the aspects of the requirement to which the Guidance relates. This Guidance represents the FCA’s views and does not bind the courts, but it can be persuasive in any determination by courts, for example enforcing contracts.”
This is a marked change from the previous attitude held by the United Kingdom government on cryptocurrencies. The country showed signs of softening its stance when last month, Eddie Hughes, a Conservative member of Parliament for the Walsall North Constituency, stated that he would want more people to pay their utility bills through bitcoin, as earlier reported by Crypto-News India.
Liked what you read? Join us on Telegram