Gary Gensler To be Chairman of the Securities and Exchange Commission
By Ollie H - Crypto Consultant - 16-04-2021
Gary Gensler has been appointed chairman of the Securities and Exchange Commission by the Biden administration.
The SEC will make recommendations on climate change and environmental issues. What does the future hold for Bitcoin (BTC) and other digital assets now that Gary Gensler is in charge? This week, the US Senate approved Gary Gensler's appointment to lead the SEC by a vote of 53-45. Biden's administration initially nominated Gensler on March 11, following a 14-10 vote by the Senate Committee on Banking, Housing, and Urban Development.
The 63-year-old administrator is the most influential financial regulator named by the Biden administration so far. Many in the industry are thrilled with the selection because the renowned financial analyst has a proven track record of success.
His term officially ends in June, but he will continue to serve for the remainder of the current Congress. Senate Democrats are expected to schedule a separate vote on his five-year term shortly. The former Goldman Sachs executive will address the Securities and Exchange Commission about climate change and the impending environmental crisis. This is now possible due to the SEC commissioners' 3-2 Democratic majority.
With recent Wall Street trends, as well as the public's views on concentrated finance and the activities of hedge fund managers, confidence in the SEC is diminishing.
With Gensler's confirmation, people are already thinking about tightening controls on Wall Street and other financial institutions in the market. Many people expect the seasoned administrator to rein in Wall Street's flaws. Gary Gensler served as Assistant Secretary of Financial Markets from 1997 to 1999 and as Secretary of Domestic Finance from 1999 to 2001.
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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