By Luke F - Bitcoin Enthusiast - 24/03/2021
CoinDCX revealed today that it is celebrating its third anniversary and more importantly, sharing it with their community. CoinDCX is among India's largest cryptocurrency exchange platforms.
CoinDCX began providing cryptocurrency trading and exchange services three years ago. The Reserve Bank of India, or RBI for short, announced a banking ban for cryptocurrency and related entities around the same time. During this period, the crypto industry in India was in desperate need of a drastic change.
CoinDCX was on a mission and dedicated to 'Cryptocurrency Adoption’. The platform’s commitment was also fuelled with their passion to blockchain and user support, keeping the company’s services in demand throughout the year.
CoinDCX officially announced the launch of CoinDCX Go earlier this year; a future Bitcoin (BTC) app through which users can buy Bitcoin and other leading cryptocurrencies with a single click. CoinDCX Go offers a quick and straightforward way to begin investing in cryptocurrencies. The platform also provides a forum for all new participants to dive straight into investing in cryptocurrency while eliminating all possible barriers. Any consumer can now invest in the fastest-growing asset class in the world.
Furthermore, the CoinDCX Go app provides users with instant access to their cryptocurrency. In the past, the Indian government intended to outlaw all private cryptocurrencies in the country. As a result, many Indian investors asked the government to enact legal regulations.
In this manner, both governments and private crypto companies will contribute to the development of a strong crypto culture.
Since capturing the attention of investors in 2017, Bitcoin has shown a strong potential for being the future of investing. Furthermore, India has re-embraced Bitcoin investing after the Supreme Court overturned the RBI's investment ban.
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 email@example.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 firstname.lastname@example.org 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 email@example.com Kind Regards