CJ - Cryptocurrency Enthusiast
Dubai is preparing to host the first MENA headquarters of Binance, the world's largest cryptocurrency exchange platform, following the recent introduction of the 'Dubai Metaverse Strategy,' which focuses on advancements in the digital economy and harness potential inside the metaverse.
In this region, about 54% of people believe that cryptocurrencies should be used as money rather than as an investment asset, according to a recent Checkout.com survey. This ratio is 11% higher than the 43 percent in the United States and 9% higher than the 45 percent average for the world.
In a recent interview, Citi Bank's Global Head of Banking, FinTech, and Digital Assets, Ronit Ghose, said that a top-down approach to formulating crypto policies is helping Dubai emerge as a go-to destination for businesses looking to set up shop in the emirate, pointing to the possibility of Dubai becoming the global crypto hub.
Famous companies and sizable corporations are concentrating on the "Gulf Tiger" for their cryptocurrency initiatives due to its lenient regulations for crypto and Bitcoin trading operations. Dubai is constantly revising its laws and ordinances to improve opportunities for cryptocurrency service providers and to draw in more business. By starting the Crypto Credibility Campaign for students, establishing the Dubai Virtual Assets Regulatory Authority's MetaHQ, and being the first regulatory body to enter the Web 3.0 development space, Dubai has made headlines for its innovations in the cryptosphere.
With the announcement that Binance would open its first MENA headquarters in Dubai, which has already received a Virtual Asset Licence allowing the company to offer crypto-based services in the city, numerous additional exchanges are likely to open shop in the area.
Binance's Regional Head of MENA, Richard Teng, spoke on how the regulators in Dubai regard supporting the growth of crypto-assets as critical to the development of web3 ecosystems. Binance will begin operations in its Dubai headquarters next month.
If you are looking for a trusted Bitcoin cryptobroker then visit BC Bitcoin. You can buy and sell cryptocurrency, trade crypto or speak with one of our team members to help you start your cryptocurrency investment journey.
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