It appears that London is pushing ahead of New York and Silicon Valley in an effort to become the Bitcoin Hub for the World.
Already the center of a $5 TRILLION dollar a day global currency market London and the British Government are angling to become the foremost financial technology center in the world.
While Silicon Valley focuses on investing in Bitcoin and Blockchain infrastructure and New York manuevers to control the Bitcoin Enconomy with over regulation and reporting (Good Luck with that Mr. Lawsky!) London is poised to move quickly and swiftly to fill the void.
Last year the UK made Bitcoin trading exempt from the VAT and later this month a large European bank will open a technology lab in London to explore the wider application of blockchain technology in the financial services industry.
Thanks to our British friends for seeing the value in Bitcoin as a way to execute wholesale and retail transactions and move money around the world quickly, efficiently and for a much lower cost than any other method currently available.
image: Inside Bitcoins