By the time rules governing Bitcoin and other cryptocurrencies go into effect in the United Kingdom, the country would likely have been removed from the European Union for more than a year; such is the gist of a forecast recently issued by international law firm Reynolds Porter Chamberlain. This estimate is based on observations made by RPC attorneys familiar with the topic of British financial regulation. A press release by RPC explains that Brexit will happen about 18 months before the pertinent laws and rules needed to oversee cryptocurrency transactions are approved. This estimate takes into account the proposals introduced by the Treasury Committee in the House of Commons; the process of approval and implementation of British financial rules is notoriously bureaucratic, thus making a 24-month forecast a best-case scenario. Her Majesty's Treasury will have to conduct the following process before finalizing rules: * Evaluate the financial activities that will involve the use of Bitcoin, Ethereum, Ripple, and other cryptocurrencies. * Present a market study along with a draft of proposed rules for the purpose of opening a period of consultation with stakeholders and the public. * Make rule changes public, define an implementation schedule and wait for legal challenges. The financial specialists at RPC do not expect a smooth approval process for cryptocurrency rules in the UK. Even though a few Members of Parliament have voiced strong support for regulation, the legal framework needed for this development will be challenging. There is already a major obstacle, and it is known as Brexit. To a great extent, if Brexit was not on the table, UK financial regulators would be able to participate in EU talks conducive to cryptocurrency oversight; alas, it appears that this will not be the case. Another challenge related to the future of cryptocurrency in the UK concerns the ability of the Financial Conduct Authority to act as a competent regulator. The FCA will have to prove that it can properly handle digital currency matters, which have thus far been lightly managed by this entity. In the end, two years may actually be a sunny forecast for British regulation of Bitcoin.