UK Leaves EU, Is This A Huge Opportunity For Crypto Businesses?

The UK leaves EU and opens a lot of opportunities for the crypto businesses at least according to the Paris-based hardware provider Ledger and the Bitpanda exchange so let’s see what they have to say about Brexit in our latest cryptocurrency news today.

The financial district in London Canary Wharf, had a new 7-by-4 meter digital billboard by Ledger put up that says the controversial slogan ‘’take back control.’’ The CEO of Ledger, Pascal Gauthier said that he was employing this phrase to make a point about bitcoin since there are a lot of shared values between the crypto community and the entire Brexit movement. The crypto users, however, can ‘’take back control for real’’ as the advertisement noted. The billboard was only put up for 24 hours.
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Gauthier explained:

 “We find it amusing that the same sentence, taking back control, can mean two different things. It’s a great moment to frame one of bitcoin’s taglines as an effective way to take back control over your money, digital secrets, and private key.”

The billboard was meant to challenge the nativism behind Brexit since the movement means ‘’taking back control over borders and currency’’ while Bitcoin is the total opposite. Bitcoin is a global, borderless technology according to Gauthier. The executive explained that now that UK Leaves EU, he will wait to see how the trade deals will affect the company in the future. Ledger opened a UK branch last quarter and employed a few people in London but does not have a ‘’physical office at this time.’’

Bitpanda, the popular crypto exchange even took a harder stance on the UK departure. The CEO and co-founder of the platform Eric Demuth stated:

 “Personally, I think Brexit is a mistake. I feel like many people do not see the great impact and were misled by the personal short-term goals of some politicians. No self-promoting politician should be a reason for anyone to be stripped of their freedoms.”

Peter McCormack who is also a popular trader based in England, called the sign ‘’hypocritical’’ and said that the real users of bitcoin would probably support Brexit. He said that he supports the departure of the UK in theory but that he recognizes the alliance forged in 1973 that helped keep peace in Europe.