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Joined 2 years ago
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Cake day: July 1st, 2023

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  • This is the point I don’t really get, if their licence is days away from issue anyway why would Reeves meeting with them be a problem?

    Because financial institutions, including the BoE have a lot more on the line, and need to keep reputational appearance even if politicians don’t care because they will be out on the streets before the next election.

    What’s Reeves hoping to gain from this, while making claims of “cutting red tape”? It sounds like simple political interference, and as such she can fuck off.


  • Generally the BoE makes a lot of sense, and I don’t see anything here that would change my position. I haven’t seen whether Revolut has had their licence upgraded from limited yet, but that has to be due any day now that they’ve had their 1 year limited trial to prove operations.

    When you are dealing with peoples money, I don’t want these things to get rushed, and Reeves saying things like

    Reeves has placed cutting red-tape on the financial services sector and other industries at the heart of her mission to turbocharge the UK’s faltering economy and has blamed over-cautious watchdogs for holding back growth.

    Financial services is doing great. Probably one of the best performing parts of the UK, why don’t you concentrate on literally anything else, like taxing unearned income?


  • There are a lot of Euro financial initiatives that the UK financial services drive and adopt, such as Open Banking and Open Finance.

    Don’t mistake the UK being outside of the EU with Financial Services in the UK, they see big picture plans and generally ignore the smaller petty politics.

    In this case, as Wero gets adopted, it’s in their best interests to support it otherwise there is a risk that customers would not be able to purchase when travelling and what’s the point of adopting that risk when you could just support it?