CJ - Cryptocurrency Expert
The outbreak of the virus signaled the start of Sri Lanka's economic problems. As soon as they started to foresee the disaster, many individuals began looking for ways to survive. While cryptocurrencies are currently uncontrolled in Sri Lanka, some people have turned to them. In contrast, India, its neighbor, is progressively gaining control of the crypto assets. The 1% transferable value securities tax that would be levied on digital currency was only recently made public. Additionally, in response to the concerns voiced by the corporation two days before, the government provided a full reason.
The shares of home financing firms have been falling for a while, just like those of cryptocurrency companies. When the Reserve Bank of India (RBI) increased the repo rate on May 4th, the majority of them experienced a downward trend. A robust real estate market, in the opinion of economists, may mitigate the consequences of interest rate hikes for a subset of businesses that are potentially vulnerable to them.
In the meantime, Sri Lanka's economy has been in free fall for some time and is now moving alarmingly quickly toward insolvency. Its food inflation has risen to 57 percent, and because its reserves have been depleted, it has no money left over to import needs.
The present economic crisis is directly affecting the apparel and tea industries, two of Sri Lanka's most significant economic pillars, and both are experiencing major difficulties.
As more and more people turn to cryptocurrencies to fight the economic downturn, there is a becoming need for trusted cryptocurrency brokers. One such cryptobroker is BCBitcoin – here you can buy and sell Bitcoin online, as well as to purchase other cheap crypto currency with the help of dedicated team members that are available 7 days of the week.
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