10 Aug '14, 12am

Britain may embrace Bitcoin as a legitimate currency

Britain’s interest in virtual currencies like Bitcoin is as strategic as it is forward thinking. Recall that since the end of WWII, the US dollar has long been the “anchor” or “reserve currency” used by most world governments for international trade. This global demand for dollars leads to a lower borrowing rate for the US, saving people and businesses a very advantageous $100 billion per year . If Britain can properly regulate virtual currencies, other nations may find it cheaper to finance international trade with options like Bitcoin rather than the US dollar, which can, much to the chagrin of other nations , often be used as a tool to exert American political will around the world

Full article: http://www.businessinsider.com/britain-regulate-bitcoin-l...

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