United Kingdom Prime Minister, Theresa May, has stated her management will look at the usage of digital currencies like bitcoin after concerns of their abuse by criminals. talking on the sidelines of the continuing global financial forum in Davos, Theresa May was discussing a probable clamp down on technology organizations like FB and Google for not living up to their social duties.
May’s administration was operating with tech giants, who’re cooperative, on problems which includes child pornography in the internet and the terrorist and extremist use of the internet, as Theresa May noted, stressing that there was more to be performed. It was at this point when Bloomberg’s chief editor John Micklethwait brought up the subject of digital currencies.
John Micklethwait said:
“As their name implies, they’re partially to hide money frequently used in the activities you’ve just defined from people like you and governments.”
However, Bloomberg’s editor-in-chief pressed on, to ask:
“Isn’t that an area in which perhaps you should try to clamp down too?”
In what’s sure to make misleading headlines about a government-led crackdown on the United Kingdom’s digital currency buying and selling markets and the country’s environment,
Theresa May said:
“In areas like digital currencies, like Bitcoin, we should be looking at those very seriously; exactly due to the way they may be used, especially by criminals.”
However, the high-profile political figure’s feedback are particularly regarding the abuse of digital currencies via cybercriminals. The United Kingdom prime minister did not reveal any particular regulations on how the authorities might inspect digital currency trading or utilization nor promise any action towards them.
Theresa May stated, suggesting the authorities will maintain tabs on digital currency interest within the future:
“It’s something that has been growing increasingly developing. I assume it’s something that we do need to look at.”
If government were to clamp down on bitcoin interest, they’d do nicely to begin with bitcoin purchaser George Osborne, the United Kingdom’s former chancellor of the exchequer till remaining 12 months. Talking in late 2015, the chancellor stressed the authorities would go out of our way to make the United Kingdom the worldwide hub of economic technology.
George Osborne stated:
“Digital currencies can now well play a huge part in our financial future.”