The budget is one of the most important days on the UK political calendar as the Chancellor declares new taxation rules, new financial measures to help grow the economy and sets the public spending levels. It is often held in March and is closely watched due to its potential to affect the wealth of millions of individuals and businesses.
A spokesman for the UK Treasury revealed for CCN that a study was being undertaken, led by the Treasury working together with different government agencies, on Bitcoin’s potential for innovation on financial commerce and Bitcoin’s potential risk. The study will conclude with proposals for the budget of 2015 which the Chancellor is expected to announce in Parliament.
It is likely therefore that next year Bitcoin may be at the front of the Chancellor’s budget announcements on the economy and public spending. It is too early to say what announcements may be made, but they may include measures to help Bitcoin businesses with raising finances, to clarify any regulations that would apply to Bitcoin businesses and to set the general tone of UK’s approach towards bitcoins.
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