COINsult | UK to encourage Bitcoin innovation – or regulate it?
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UK to encourage Bitcoin innovation – or regulate it?

This morning’s press makes much of a speech to be given later today by Chancellor of the Exchequer, George Osborne, (the UK’s finance minister) announcing support for “alternative finance providers”, recognising them as an important part of the FinTech sector.

BBC News reports ‘he will announce the government is to investigate the potential for virtual and digital currencies such as Bitcoin to encourage innovation in the UK’s financial sector’. Contrast this with the FT’s coverage:

UK to investigate regulating Bitcoin.

An ‘investigation into potential’ is a long way off actually doing something to support digital currency innovation. It remains to be seen whether the outcome will be encouragement or regulation.

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