CJ - Cryptocurrency Enthusiast
The prohibition was announced on September 22nd in a data center permission notice from the People's Government of Gansu Province, which said that "any data center is absolutely barred from participating in virtual currency mining operations."
The Eastern Data and Western Computing program, which will store, analyze, and feed data obtained from China's wealthier eastern provinces, is also stated to have as its objective the construction of data centers in western China.
One of the project hubs will be the city of Qingyang in the province of Gansu. It intends to deploy more than 300,000 server rack units in a data center by 2025. The paper further stated that although current data centers are required to complete the setup of monitoring equipment and access the monitoring platform in batches, new data centers are required to do both tasks simultaneously.
The Chinese government also aims to motivate universities and vocational schools in the province to improve the current working conditions. As a result, it seeks to launch undergraduate and junior college courses in topics including virtual reality, blockchain, big data, artificial intelligence, and the crypto assets economy.
Several state-owned businesses, particularly those in Zhejiang province, continue to run mining rigs even after China banned cryptocurrencies. Despite the nation's ongoing one-year mining prohibition, China reemerged as the second-largest source of Bitcoin mining in May 2022. The Beijing Number One Intermediate People's Court has ruled that prospective investors are only permitted to exchange cryptocurrencies as virtual assets, not as actual money.
The figures mentioned above show that there is a huge demand for blockchain technology and even with the ban on cryptocurrencies people see the benefits it can bring. To get yourself involved in crypto, we advise visiting a trusted cryptobroker – BCBitcoin. Here you can buy and sell cryptocurrency, trade crypto and learn more about essential and upcoming new projects in the blockchain space.
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