If the UK leaves the EU without a deal, its fintechs would lose access to the bloc's single market:
The move, which has caused uproar among legislators across the political spectrum, including within Johnson's own party, is seen by many as an effort to limit Parliament's ability to halt the UK exiting the EU without a deal. If proroguing Parliament, as many suggest, results in the UK's long drawn out and fraught divorce from the EU concluding without agreement, it will have substantial implications for the country's fintech ecosystem.
is regulatory harmonization across the EU that allows firms licensed in one country to offer their services across the bloc without the need for further authorization. For instance, UK-based neobank Monzo, which has a banking license in the country, can offer banking services in any other EU or European Economic Area member country.
A"no-deal" Brexit will also bring workers' freedom of movement to an end. Among the core pillars of the EU is the rule that nationals of member states have a right to take up employment in another member state on the exact same conditions of nationals of that specific member country.
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