By Kenny S - Bitcoin Enthusiast - 16-07-2021
The RACIB, also known as the Russian Association of Crypto-economics, Artificial Intelligence, and Blockchain, has unveiled a project to move worldwide computing resources for crypto mining to the Russian Federation. A spokeswoman for RACIB told Cointelegraph that more information would be revealed at a different time.
RACIB is collaborating closely with Russian government agencies and state enterprises, developing a variety of collaborative working groups with local state entities, according to the statement.
One such group is working on an "eco-mining" proposal to develop renewable energy sources for mining farms and data centers. The business hopes to create crypto mining operations while running on green energy sources like wind-powered power plants.
RACIB is already engaging with certain overseas partners as part of the project, including a selection of China's major crypto mining-related enterprises. According to the release, the consortium's companies’ control more than 25% of the worldwide hashrate of the major cryptocurrencies.
Reportedly, Russia is the fourth-largest country in power production, producing over 1,100 terawatt-hours per year, trailing only China, the United States, and India.
According to the announcement, Russia would build over 1,100 megawatts of new power plants employing wind farms in the Rostov region, the Republic of Kalmykia, Adygea, and Stavropol Krai by 2021.
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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org Kind Regards