Scottish School accepts Bitcoin payments, can launch BTC Reserve

A school in Scotland has said that it will be the first in the UK to accept Bitcoin payments.

Lomond School in the city of Helensburgh said it made the choice to accept the cryptocurrency after a number of parents – both locally and foreign – the request, made the request, Time reported.

The private boarding school has a number of international students.

To “manage and reduce risks,” the school said it would start by accepting the largest cryptocurrency in phases, and digital coins would be converted into pound Sterling. It also said that it would ensure complete compliance with the British financial regulations when accepting BTC.

The school added that it would also consider building a reserve of the cryptocurrency if the use case grows in the UK. “Assuming Bitcoin wins a wider acceptance in the UK and worldwide, the school will try to build a Bitcoin Asset Reserve,” said it in a statement.

Lomond School did not respond immediately Decodeer ‘S questions.

The idea of ​​a “Bitcoin Asset Reserve” reflects the executive Order of US President Trump signed Last month, the government authorizes BTC and finding ways to buy more of it. The US government already has around 200,000 BTC – WORTH $ 16.7 billion at today’s prize – which was mainly seized or forfeited in criminal cases.

A number of other countries are now wholesale Holding Bitcoin – as if they keep other assets in reserves – and companies have also started picking up the asset. Strategy, Bitcoin’s largest company holder, currently has more than $ 44 billion in the active.

Published by Andrew Hayward