The Effects of UK General Election on Cryptocurrency

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Shadrach   in Crypto & Trading

Last updated: 08 January 2020, 03:16 GMT


The majority of people who are interested in crypto and blockchain are part of the millennial generation and they are also the people who are interested in the upcoming UK General election which links Cryptocurrency and the UK General Election are much related to each other than what we think.

 

Before we get into details, if you are a UK resident who qualifies to participate in the election and have not voted yet, practice your right to vote because the future of the country and potentially the future of crypto is in your hands. 

 

The connection between Millennials and crypto

 

Half of the worldwide bitcoin owners belongs to the millennial class that is why you can’t refuse to acknowledge that millennial and cryptocurrency are related. This is the first generation in human history that is truly digital.

 

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Affluent millennials have already put some sort of money in bitcoin according to recent survey which is up to 29 percent. There are more than 40 crypto platforms in the United Kingdom, which is more than in any other country except in EU.

 

The Conservatives and Labour, country’s leading political parties, have forgotten about these new technologies even existing. 

 

Labour 

 

On top of the NHS reform and tax move, Labour, refers to “AI and automation” but nothing about blockchain.&nbsp, wants to ensure “new technologies” are created in the UK and exported but as per Decrypt, “the focus is on clean alternatives to heavy industries rather than finance and digitisation.”

 

The Tories

 

I do not think that the Tories, which is also called the Conservative party, to look into an emerging asset class like bitcoin is their main priority because they haven’t really done much with crypto since they got into office in 2010.

 

For cryptocurrency and blockchain companies, UK is one of the most welcoming countries. Whereas crypto isn’t legal tender but it surely isn’t forbidden by law in any way.