Stephan Livera Podcast

Shaping Bitcoin's Future in UK with Freddie New SLP614

14 snips
Nov 11, 2024
Freddie New, general counsel at The Little Car and Head of Policy at Bitcoin Policy UK, dives into the evolution of Bitcoin regulation in the UK. He discusses how perceptions have shifted from viewing Bitcoin as a criminal tool to its recognition as property. Freddie highlights challenges with banking access and the FCA's restrictive measures, while advocating for clearer regulations. The conversation also touches on fostering Bitcoin adoption and exploring the future of custodianship, emphasizing the need for political engagement to support pro-Bitcoin policies.
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ANECDOTE

UK's Ossified Nature

  • The UK's misunderstanding of Bitcoin stems from its ossified nature, hindering change and building.
  • This is exemplified by the costly, unfinished HS2 railway project.
INSIGHT

Pedigree over Merit

  • The "professional class" often prioritizes identity and pedigree over merit.
  • This explains their obsession with Satoshi's identity, hindering Bitcoin's recognition.
ANECDOTE

Shifting Regulatory Views on Bitcoin

  • The UK initially viewed Bitcoin as a tool for criminals with no intrinsic value, suggesting it be regulated as gambling.
  • This perspective shifted after submissions to the Treasury Committee and work by the Law Commission, recognizing Bitcoin as property.
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