Name: Shobhit Shukla Submitted To: Prof.
Varada Sambhus
Div.-B Enrolment Number:2019080 International Politics, Third Semester
Abstract
Brexit, the European divorce saga which has been going on for ages, is very likely to end on
1st January 2020.1 With Britain exiting the EU without a definite direction ahead of either
side, both the Pound and the Euro fluctuate widely in value, rendering cryptocurrencies
to seem like a more viable option as a better alternate fiat currency. In addition to
socioeconomic issues such as low wages and jobs, both sides are likely to have significant
humanitarian and socio-economic implications.
This dilemma of both the sides acts as a boon for alternatives such as cryptocurrencies.
Britain and EU are one of the most important economic centres of the world, they have been
a hotspot for the rising fintech industry over the last few years.
This article titled ‘Bitcoin and Beyond: An Analysis of Cryptocurrency Regulations with
reference to the Brexit Boon’, analyses the current scenario for cryptocurrencies between
the EU and Britain and gives analysis about the foreseeable future of the fintech industry. For
the first time since its inception Bitcoin is now comparable to a major fiat currency in terms
of volatility over an annual basis.2 Thus, it is imperative for us to understand this historic
event through an international perspective and how it affects the economies and relations of
the fintech giants. The objective of the paper is to show that the problems of the fiat system
between the two economies are likely to have a beneficial impact on cryptocurrencies, whose
strength stems from their decentralized nature. The research work is based on the data
collected by the secondary sources such as books, articles and journals. The objective will be
achieved by analysing the data collected from secondary so urces through suitable techniques
at different places.
Keywords: Alternate Currencies, Bitcoin, Brexit, Cryptocurrencies, FinTech Industry and
International Politics.
1
James Blitz, Jim Brunsden & Laura Hughes, Brexit timeline: key dates in the UK’s divorce from the EU.
Viewed on 12th August 2020. < https://www.ft.com/content/64e7f218-4ad4-11e7-919a-1e14ce4af89b>
2
Nathan Reif, Why Bitcoin has a Volatile Value, Investopedia. Viewed on 12th August 2020.
<https://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.asp>
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