The Digital Currency DCash, Issued by The Eastern Caribbean Central Bank Has Now Launched
By Kenny S - Cryptocurrency Enthusiast - 01-04-2021
The Eastern Caribbean Central Bank, the primary financial organization of the Eastern Caribbean Currency Union, has introduced DCash. The ECCB held a press event on Wednesday to reveal the release of its CBDC for the area.
A digital currency is similar to cryptocurrency as it is like a crypto to fiat coin, much like if you were to buy Tether (USDT), a crypto that’s fixed at a price equal to USD. The big difference between digital currencies and cryptocurrencies, is you cannot mine digital currencies.
DCash is, essentially speaking, the digital counterpart of the Eastern Caribbean dollar, the official currency of the union's eight member countries. Even so, as stated during the launch, DCash is only accessible in four of the currency union's member countries: Grenada, St. Kitts and Nevis, Antigua and Barbuda, and Saint Lucia.
The project has been in the works for over two years, with the ECCB first revealing its proposals for a CBDC in March 2019. As part of the launch ECCB Governor Timothy Antoine conducted the first-ever live DCash cross-border transaction. It was reported that Governor Antoine transferred $100 DCash from the ECCB headquarters in St. Kitts to multiple wallet holders in three other countries participating in the project reveal.
The ECCB will apparently be able to mint and issue DCash by using Bitt's CBDC management protocols. The ECCB will also be able to redeem and burn the DCash CBDC.
During the launch, the ECCB notes that DCash will facilitate both commercial and private transactions with vendors and merchants who sign up for the DCash Merchant App. Customers will be able to pass DCash to residents of the currency union.
Beyond this, both partners hope to expand DCash to the currency union's remaining four members: Montserrat, the Commonwealth of Dominica, Anguilla, and Saint Vincent and the Grenadines.
If you are looking to buy and sell Cryptocurrency but you’re not sure where to buy Bitcoin (BTC) and other popular crypto, just head over to BC Bitcoin and register an account to start selling Bitcoin today.
https://cointelegraph.com/news/eastern-caribbean-central-bank-s-dcash-digital-currency-goes-live
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards