When Bitcoin will be the first currency to be legal in the UK
The crypto currency Bitcoin has been on a meteoric rise over the past few months, with a recent price rise surpassing $10,000 and topping $2,000 on multiple occasions.
However, as it has been a volatile currency in the past, it is not a safe bet for many investors to bet on a big rise in value, particularly in a market that is prone to volatility.
According to data from the Financial Conduct Authority (FCA), the UK will become the first country in the world to allow the use of cryptocurrency in 2020.
The new law will require a government-issued license to use the digital currency in retail transactions.
The decision will be made on December 15th, 2020, the same day the first legal Bitcoin exchange is set to launch in the country.
This will allow consumers to use Bitcoin in their everyday life.
This is the second time the UK has been the first to legalise the use and trade of Bitcoin in 2020, with the country also launching the country’s first Bitcoin exchange in April this year.
However, it remains to be seen whether the UK can sustain its rise in the cryptocurrency market, as the cryptocurrency is currently trading at around $1,000.
In addition, it will be an uphill battle for any country to become the global leader in cryptocurrency, as China has been steadily moving away from the currency and many other countries have followed suit.
Bitcoin is still considered an underground currency by many, which has led many investors into other alternative currencies, such as Ethereum and Litecoin.
The UK government is now moving towards adopting cryptocurrencies and the future of the cryptocurrency industry is now looking very bright.
The Government of the United Kingdom is currently considering the introduction of a bill that will make Bitcoin a legal tender.