UK-based Netagio pleased with UK remarks, broader community gives mixed reaction

Following what many will classify as surprisingly encouraging comments by UK Finance Minister George Osborne on Bitcoin, businesses and enthusiasts

Following what many will classify as surprisingly encouraging comments by UK Finance Minister George Osborne on Bitcoin, businesses and enthusiasts have taken notice.

Netagio is engaged in high security vault storage for Bitcoin, leveraging its experience with gold storage. They recently launched gold-bitcoin-fiat trading. CEO Simon Hamblin said on the future of Bitcoin in the UK:

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Suggested articles

How Entrepreneurs Fail at Blockchain StartupsGo to article >>

“Mr. Osborne’s comments are very encouraging and we have long awaited some direction from the Government and Regulators. This is an exciting time to drive greater innovation in the financial services industry, for Bitcoin businesses, retail and institutional investors and merchants. The UK’s offshore jurisdictions are already strong supporters of alternative currencies and by bringing together a common approach, this could position the UK as one of the leading centres for digital currency innovation.”

Commentary on forums such as reddit has been more mixed, as would be expected. Commenters debated how much of a bite the government is willing to make into the City of London’s banking industry. Some foresee the UK becoming a Bitcoin powerhouse, while others fear “another Lawsky is on the horizon”, in reference to Superintendent for the New York Department of Financial Services, whose recent proposal for regulation was not well received.

Got a news tip? Let Us Know