Politicians’ pronouncements are often evasive but when George Osborne declared his hopes for the future of financial technology in Britain, he did not mince his words. FinTech Collective's very own Mr. Jones wades into the debate too.
By contrast, the State of New York has proposed passing a regulatory framework on digital currency called BitLicense, which some practitioners say creates expensive and complex obligations for start-ups. Gareth Jones, co-founder and general partner at New York-based fintech venture capital firm FinTech Collective, said: “It could go one of two ways, either it makes it pretty onerous to start a crypto-related business in New York and could push businesses to move to London. Or it creates a set of rules and makes it very clear and understandable to attract businesses.”