Thai Stock Exchange Seeking to Launch Digital Asset Platform
By Luke Flowers – Cryptocurrency Enthusiast
Following in the steps of many European stock exchanges, the Stock Exchange of Thailand (SET) is looking to introduce a digital asset trading platform to buy and sell cryptocurrency. The exchange hopes to develop their digital asset exchange in the next three years with a planned launch date of 2020.
SET want to introduce an innovative crypto exchange that is completely digital from electronic identification verification, electronic payment of stamp duty, paperless account opening and direct-debit registration for a more environmentally friendly platform. Institutions selling crypto through the new exchange will find the process quick and seamless as there is no requirement for paper documents.
A roadmap of the development phases is to be released to update vested individuals. The president of SET believes that working with the shareholders will help build and enhance the existing infrastructure that will be used to facilitate parts of the new digital asset exchange. As a trading exchange, much of the infrastructure is already in place with enhancements to the system to facilitate selling Bitcoin.
It seems that many traditional stock exchanges are making the transition towards launching a crypto exchange. It could be that these exchanges are familiar with the mechanics and have much of the infrastructure in place but no experience crypto selling. Both the Swiss-based stock exchange, SIX and Germany’s Deutsche Borse have plans to launch cryptocurrency trading platforms of their own able to exchange Bitcoin for cash.
You can already sell Bitcoin UK through our platform along with hundreds of other cryptocurrencies so ensure you look further!
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