The UK – a prospective Bitcoin trade center?

bitcoin britain

The Guardian, an authoritative British source, reports that the UK Treasury considers the establishment of global Bitcoin trade center in Great Britain.

To this end, the Ministry officials have started a large-scale study of virtual currencies in order to decide whether it would be beneficial to the kingdom. The Treasury will examine all the risks, threats and advantages of working with the so-called crypto-currencies, and arrive at a corresponding decision.

George Osborne, the Chancellor of the Exchequer (i.e. the Minister of Finance), officially confirmed this information. According to him, the UK authorities have set a goal to make Britain a centre of global finance, and are now engaged in the search for possible ways of achieving it.

The study is expected to be completed this autumn. The research results will help the Treasury experts draw the conclusion whether virtual currencies may have a decisive role in the modernization process of the country’s financial industry.

With its turnover estimated at approx. $8 billion, Bitcoin is currently the world’s most popular virtual currency.