The members of the European Union aren’t the only entities waiting to see what kind of deal, or no deal, the United Kingdom works out in Parliament on leaving. So are U.K.-based blockchain startups.
If “Brexit” occurs, these companies may lose access to the European market, Coindesk reports. They’re also facing a longer approval process for their businesses to operate.
Among those companies hung up by the current squabbling in the U.K. Parliament is Solidi, which is developing a blockchain-based payments platform that uses cryptocurrencies to facilitate money remittances. Brexit is “a hindrance to everything in the short term,” Solidi CEO Jamie McNaught told Coindesk.
These startups are looking at higher costs in complying with British and EU regulations. What to do? Maybe move elsewhere in the EU and avoid Britain altogether. Read more here.