By Taylor - Crypto Retailer - 01/12/2021
In recent news, the bank of Indonesia looks to create and mint a central bank digital currency (CBDC). The adoption for buying crypto-based assets has been growing drastically, however there are many places that worry about the risks behind crypto. In this case, Islamic authorities are opposing its citizens buying cryptocurrency. Reportedly, the authority members are highly concerned of the dangers and risks of investing in volatile assets. However, despite the worries, the bank of Indonesia wishes to enter the crypto field and establish control over digital assets. One way the bank plans on entering the crypto field is by first releasing a CBDC. A CBDC operates similarly to a stablecoin, the main difference is that a CBDC is regulated. In the future, Indonesia hopes to launch its own cryptocurrency exchange platform.
Reportedly, the Indonesian central bank is digitalising the national currency, the rupee, in an attempt to avoid buying unsafe and private cryptos. The decision to produce a digital rupee came shortly after the Islamic authorities had banned all types of crypto-based operations and services. Assistant Governor of the Indonesian Central Bank, Juda Agung, stated that people can only access cryptocurrencies through futures trading which are currently being regulated by the commerce ministry. In a statement, Agung mentioned that one of the main paths to take in order to combat crypto would be through releasing a CBDC. Reportedly, the bank of Indonesia has since been researching the best methods in order to create and establish a new national cashless coin.
If you are looking to Buy Altcoins or cash out crypto UK, then you can head over to BC Bitcoin where you can safely start investing in cryptocurrency today.
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