By Mark - Cryptocurrency Broker - 01-12-2021
Recently, the Baltic Fintech Summit had talked about cryptocurrency adoption regarding Bitcoin (BTC) Maxis and Boomers. Reportedly, there appears to be a lot of competition between the two. With Fintech adoption now spread worldwide as digital and contactless payments become mainstream, using fiat is steadily becoming a thing of the past. Despite utilising fiat currency in a digital format and turning the world cashless, using Fintech with cryptocurrency is a different operation altogether. Since buying crypto is still a relatively new concept, there are many problems that arise with it that need to be addressed. Entrepreneurial developers that build crypto market investments are having to deal with regulation laws and finding marketing strategies for mass adoption. Even though there are complications when it comes to global adoption for cryptocurrencies, tokens backed by decentralised blockchain technology provide a new structure for the traditional finance industry.
Interestingly, the Fintech industry is split up into different sectors that cater to different services and people. Occasionally, the entire industry comes together at the Baltic Fintech Summit to discuss the future of Fintech. Reportedly, the event was a success as no one, not even Rada Iukinait, CEO of the British Chamber of Commerce, expected such a large turnout. The Baltic Fintech Summit was held in Vilnius, Lithuania this year. Lithuania appears to already have positioned itself as the designated country for the Baltic Fintech. During the event, Fintech experts and leaders surprisingly began discussing the future of cryptocurrency and whether it’s time to use them in payment Fintech payment services.
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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