Crypto Exchange Startup INX Planning to Raise $130 Million in Landmark IPO
By Jamie Green - Cryptocurrency Investor
Crypto exchange startup, INX, is looking to raise over $129.5 million after generating the first sale of a security token that’s registered with the US Securities and Exchange Commission (SEC). INX hopes to provide services to institutions so they can buy and sell cryptocurrency for security tokens as stated by Yahoo Finance.
On Monday, the INX filed a draft F-1 with the SEC and is looking to market the tokens to institutional and retail investors through the Initial Public Offering (IPO). Soon, the public can buy cryptocurrency to invest in a security token in the US.
This is an incredible accomplishment because token sales have so far been unregistered. Some of the issuers marketed to wealthy investors to be excused from having to register and be slapped with notices. Many of them never even told regulators about what they had planned, which transpired into several cases against ICO teams for selling crypto classified as an unregistered security illegally.
With this move, the INX deal is being considered one of the biggest developed IPOs in the blockchain market. We can see more cryptocurrency companies entering this investment class as just last year, mining subscription company Agro, raised over $32.5 million dollars through an IPO using the London Stock Exchange. We could see more crypto companies looking to exchange Bitcoin and other currencies for an IPO as regulation evolves.
Besides that, the INX will be competing with several institutionally-engaged, trading platforms that are regulated and expected to be launching this year, even though the INX excels because of the digital assets that it plans to list. In spite of it being a security, users can buy crypto on the chain and use as a utility token on the INX Exchange to pay for exchange expenses.
Institutions can already sign up over on our platform to begin trading if you’re seeking to buy Bitcoin UK or any of the other crypto’s listed, so check it out!
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