Crypto Firms Take Advantage of Brexit

UK separated from European Union

Brexit is Finally Here

The UK has officially separated from the European Union after 47 years of membership and more than 3 years since the Brexit referendum.

The country will continue to follow EU rules while it negotiates a bilateral trade agreement, which the government claims could be finalized by the end of this year.

After such a move, the Paris-based hardware provider Ledger and Vienna-based exchange Bitpanda made their thoughts on the “Brexit” theme.

Last Friday, Ledger’s digital billboard was installed in London, reviving and amending the well known pro-Brexit slogan “take back control.”

Pascal Gauthier, CEO of Ledger, said he used the phrase “to make a point about bitcoin”, adding that there are shared values between the Brexit and the crypto-community. But crypto alone lets people “take control back for real,” as the ad reads.

“We find it amusing that the same sentence, taking back control, can mean two different things,” Gauthier said in a phone call. “It’s a great moment to frame one of bitcoin’s taglines as an effective way to take back control over your money, digital secrets, and private key.”

“Brexit means taking back control over borders and currency. It’s very U.K.-centric. Bitcoin is the opposite. It’s a borderless, global technology,” Gauthier said.

On the other hand, Crypto exchange Bitpanda has taken a tougher line on departure from the UK.

“Personally, I think Brexit is a mistake,” said Eric Demuth, the Vienna-based co-CEO and founder. “I feel like many people do not see the great impact and were misled by the personal short-term goals of some politicians. No self-promoting politician should be a reason for anyone to be stripped of their freedoms.”

Furthermore, Peter McCormack, a prominent England-based crypto commentator, called the sign “hypocritical” and said “real bitcoiners would probably support Brexit.” McCormack, for his part, said that in theory he supports divorce, although he acknowledges the alliance forged in 1973 that helped to maintain peace in Europe.

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