It looks like the UK’s financial regulator will ban retail investors from using Bitcoin as collateral for a loan.
If they do this (decision due later this year) then I’ll probably have to start looking at where else to live.
The infantilisation of the public by the state is intensely frustrating
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Cannot wait to leave the UK. Where are you considering going to?
And where did you read about this? Do you have a link?
This is the FCA discussion paper on it. They seem to be happy with using ‘regulated stablecoins’ (🤮🤮🤮) as collateral but not Bitcoin.
https://www.fca.org.uk/publication/discussion/dp25-1.pdf
No idea yet, not going to spend too much time looking into it until I absolutely have to. We have kids and don’t want to upheave them unless it’s absolutely necessary
It's so damn frustrating what these clowns are doing to this country.
What a joke