Caos Brexit, a "good" for cryptocurrencies?

The British parliament voted to ask to postpone the deadline for the Brexitthus forcing Prime Minister Boris Johnson to ask the EU for an extension.

Well, according to William Thomas, CEO of Cryptomate, as reported on, in the event that no agreement is reached by October 31, "there will be substantial uncertainty within the UK and EU financial institutions. " However, it is still early - he said - if all this will create a new one bitcoin application and cryptocurrency in general.

"I would expect to see some upward movement in the BTC / GBP markets shortly after the expiry, but given that the British pound is a small part of the global volume of crypto volume, it may not have a large overall effect on prices as some have predicted. - stated the top manager and then specified that - however, it will have a positive impact within the UK market, but the degree to which this will affect global crypto currency markets is speculative at the moment. "

Recall that Cryptomate allows British users to purchase a wide range of cryptocurrencies by instant bank transfer. The platform claims to have served 11.250 customers, executing 44.853 orders worth around £ 14,43 million.

Thomas also explained to how the UK cryptocurrency industry is likely to be affected in the event of a Brexit no deal. "For the largest traditional financial services industries operating outside London, there are safeguards that will see the financial services 'passport' on the EU market continue until future agreements are made."He noted.

Either way, it still is too early to be able to formulate a specific opinion. However, "personally I am convinced that a Brexit no deal would be a huge advantage for the British long-term cryptocurrency industry, as it allows us to create our own regulatory systems without EU interference - which are much less friendly to the industry as a whole compared to the UK ".