Gus – Cryptocurrency Expert
Binance, one of the major cryptocurrency exchanges, has been awarded a Category 4 licence to operate as a crypto-asset service provider by the Central Bank of Bahrain (CBB) (CASP)
This news was announced on Thursday, May 26, 2022, on Binance's official website. Binance is the first cryptocurrency trading platform to receive the CBB's Category 4 licence. It was granted a provisional licence in December of last year. Binance Bahrain will be able to provide a greater variety of cryptocurrency investment services to Bahraini crypto traders as a result of this licence. Binance will specifically offer its services under the oversight of Bahraini regulators.
Binance's director of MENA, Richard Teng, said: "The upgrading to a Category 4 licence in the Kingdom of Bahrain is a significant milestone for Binance and demonstrates our dedication to becoming a compliance-first exchange."
Binance was targeted by regulators in various countries in 2021, including the United Kingdom and Japan. Since then, it has enlisted a variety of resources to improve its compliance with various government agencies. In related developments, Binance will assist Kazakhstan in the development of crypto-related legislation. This report follows Binance CEO Changpeng Zhao's meeting with Kazakhstan President Kassym-Zhomart Tokayev.
The Republic of Kazakhstan's Ministry of Digital Development, Innovations, and Aerospace Industry, as well as Binance, will look for ways to integrate financial infrastructure into the crypto market and supervise the development and deployment of blockchain technology, according to the agreement.
Furthermore, the Ministry and Binance will assist the construction of a regional blockchain centre by promoting Astana Hub among local and international talent.
If you would like to get ahead into Cryptocurrency trading, you can use trusted cryptocurrency broker – BC Bitcoin. You can buy and sell cryptocurrency on their platform using credit cards or any bank transfer. It offers cheap cryptocurrency and small fees.
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