Musiccosmos

From longer approval processes to the threat they might lose access to the European market, it’s safe to say U.K. blockchain startups are looking for contingency plans. A quick recap: in 2016, the U.K. held a referendum on whether to stay in the European Union (E.U.), with a majority of voters opting to leave the economic bloc. Since then, the government has been negotiating with E.U. officials on the terms of its exit – but recent hurdles have raised the specter of a “no-deal Brexit” that could lead to economic turbulence and uncertainty. It’s that uncertainty that has some blockchain startups sweating about their future prospects – at least in the months ahead as politicians attempt to hammer out an agreement. “Brexit is a hindrance to everything in the short term,” said Jamie McNaught, CEO and founder of Solidi Ltd, which is developing a blockchain-based payments platform that uses cryptocurrencies to facilitate money remittances. He told CoinDesk: “[It’s] because all finte...

Europe’s counterpart to the US Food and Drug Administration is temporarily scaling back activities as it anticipates greater-than-expected loss of staff when it relocates due to Brexit. The European Medicines Agency said Wednesday that it would scale back or suspend certain activities through next year so that it can focus on evaluating and supervising medicines ahead of a planned move from its current home in London to Amsterdam, set to take place by the date Brexit occurs, on March 30, 2019. The cutbacks will take place on Oct. 1 “at the latest.” The EMA will cut back international collaboration in areas like harmonizing global regulations, in which the agency said it will take only a reactive role. On issues like antimicrobial resistance and vaccines, it will maintain activities “as long as possible,” but review them on a case-by-case basis. Clinical data publication, development and revision of guidelines, working parties not related to products and other activities will be s...