HodlX Guest Blog Submit Your Post
Is Brexit a chance for crypto to gain a stronger foothold in Europe?
Uncertainties have been clouding financial markets as the US-China trade war has intensified, and so far, there’s no end in sight for this long-standing trade dispute between the two biggest economies in the world. Unfortunately, markets never run out of uncertainties, and Brexit is certainly one of them. With Boris Johnson taking the helm as Prime Minister, the possibility of a no-deal Brexit is higher than ever. How should crypto investors play this? What implications could it have in terms of price actions and crypto development?
What is the Latest?
It may seem relatively quiet when it comes to Brexit developments and updates; however, this is more like the calm before the storm. The UK parliament will return from the summer recess in the second week of September, and PM Johnson is expected to have a series of intense debates with lawmakers trying to avoid a no-deal Brexit. The first clash is likely on September 9th when MPs are scheduled to discuss the progress report on power-sharing in Northern Ireland. Meanwhile, the Labour leader Jeremy Corbyn could call for a vote of no confidence against PM Johnson as early as September 3rd.
Since Johnson took the helm as Prime Minister, the chance of the UK leaving the EU without a deal is getting more likely by the day. In a report, the UK-based think tank Institute for Government believes that the chance of the UK departing the EU with a deal is very slim. Even a vote of no confidence would probably not block a no-deal exit.
So, what will happen after a no-deal Brexit is delivered?