Financial watchdogs are in discussion with one of the world’s largest digital currency markets about the possibility of setting up a Bitcoin exchange in Britain.
Coinbase was set up in 2012, providing a platform for users to transact using the new currency.
It launched a regulated Bitcoin exchange in the US with over $100 million in backing from banks and the New York stock exchange.
The chief executive of the exchange platform, Brian Armstrong, said in an interview with The Times that talks had been going on for “at least six months.” He said conversations had been “positive and moving the right direction.”
If a regulated Bitcoin exchange is established in the UK, it could help reinvigorate the digital currency’s image, which has previously been classed as the main bartering tool of “dark web” drug dealers.
Bitcoin has had shaky beginnings with big Bitcoin exchanges like Mt Gov suffering huge thefts. Larger tech companies, however, like Dell and Microsoft, have begun to accept the digital currency as payment in their online shops.
While the UK does not currently recognize bitcoin as a currency, the Treasury announced plans last month to regulate a range of digital currencies, including Bitcoin.
Armstrong said most new digital currencies “really take about 10 years to reach the mainstream. All sorts of people in financial services are starting to look at this. We’re in conversations with at least a dozen banks around the world.”
The price of Bitcoin is currently around $250, having experienced massive fluctuations since it was launched in 2009. In 2013 it was worth more than $1,200.
There are currently around 14 million Bitcoins in circulation, meaning the currency is worth more than $3.4 billion.
“It’s getting less volatile every year and I think that trend will continue,” Armstrong said.
“There was a bubble period at the end of 2013 and the beginning of 2014. We saw this massive run-up in the price that didn’t match the actual price of Bitcoin underneath.”
“If I had to guess, my feeling is that we’re probably near the bottom now. My hope is that the growth will be much slower and steadier here on in,” he added.
Coinbase has 2.1 million users across the globe, who collectively hold a total of 2.6 million wallets which they can use to buy, sell and transact in Bitcoin.
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Jesus Christ was born, lived, died, and rose again for the sole purpose of saving us from our sins. Are you saved? The bible declares that “For whosoever shall call upon the name of the Lord shall be saved.” – Romans 10:13 (KJV). Salvation is turning your life over to Jesus Christ, believing that Jesus is the son of God, and renewing your mind with his spirit, that is done through repentance of sin, and following JESUS with all your heart, mind and soul. JESUS transforms lives, if you are ready for this life saving step, call upon your savior TODAY! Learn more her
“And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. ” -Revelation 13:16-17 (KJV).
And many shall follow their pernicious ways; by reason of whom the way of truth shall be evil spoken of. And through covetousness shall they with feigned words make merchandise of you: whose judgment now of a long time lingereth not, and their damnation slumbereth not- 2 Peter 2:2-3 (KJV).
While they promise them liberty, they themselves are the servants of corruption: for of whom a man is overcome, of the same is he brought in bondage – 2 Peter 2:19 (KJV).
To eliminate all physical money from the world we would need a system where ONE central bank issues a virtual/digital currency unit for everyone. With all computer systems interconnected, this makes implementing a global economic system easy. The centralized banks would control the currency, mandating everyone to buy or sell using this system. Central Bankers now RULE over the entire planet! This is the plan of the New World Order, and currently, many countries are switching over to a cashless society. The five top nations which are now nearly cashless are: Sweden, Somaliland, Kenya, Canada, and South Korea. All exchanging currency in a cyberspace with virtual currencies.
Essentially, select Central Bankers would administer the monetary affairs of all nations via these virtual/imaginary/digital currency system. Voice activated apps are now available in Sweden and the United States for banking and monetary transfers. Speak and transfer money. Not to mention, ‘mobile money’ – pay by swiping your phone has already become the norm. Apple iPhone and new watch is exactly the gadget that “hooked” everyone on this system.
A cashless society is the trend in motion- How many times have you heard, “We Don’t Take Cash—Cards Only”? Get ready for a Cashless Global Society.
In the Faithful Service of Jesus Christ,