NEW YEAR, NEW REGULATIONS AND NEW CHALLENGES –DAVOS 2020
Ollie Hurst – Cryptocurrency Broker
This year the last week of January appeared as a golden period for crypto thanks to the leaders of the world. It consisted of President Donald Trump, Prince Charles and many other well-known VIPs publicly acknowledging Bitcoin and other cryptocurrencies, says Coin Fi. They all gathered to attend the World Economic Forum that took place in Davos, Switzerland. In this session, the WEF stated its resolution about forming a global consortium for governing digital currencies including stablecoins. Within in an hour, this news brought an increase in the price of Bitcoin from $8,200 up to $8,455 as investors were buying and selling Bitcoin.
Furthermore, it was decided that the consortium will be inclusive of a variety of traditional financial institutions, economists, academics, members of different forums and communities, and global governmental agencies. Regardless of the main objectives of the consortium, it has a focus on initiating the digital assets as an element of the normal financial ecosystem. However, implementation requires a regulatory body having transparency with the assistance of both public and private sectors.
Keeping the WEF 2019 in consideration, cryptocurrencies have never received positive response from prestigious personalities before. It appears as we move forward, their point of view and opinion on technology and cryptocurrencies is changing.
For a great website to buy and sell cryptocurrency, head over to BC Bitcoin today, the most trusted Bitcoin broker in UK.
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