By Tyler S - Wallet Specialist
The Brazilian Stock Exchange (B3) has its eyes set on installing some of the latest blockchain technology into its network. According to a B3 spokesperson, the company is already researching and navigating the best methods in order to integrate the technology and "participate in this ecosystem."
B3 is known for being one of few exchanges globally selling Bitcoin (BTC) exchange-traded funds (ETF). Currently, the exchange that allows customers to invest in cryptocurrency ETFs is searching for new ways to supply data inputs to support Brazil's central bank digital currency (CBDC). A CBDC is a nation's digital currency that the country's central banks regulate, hence central bank digital currency. A CBDC can be considered as a crypto-to-fiat coin, similar to that of a stablecoin, as it is a digital asset pegged to the value price of a fiat currency.
Luis Kondic, the managing director of listed goods and data for B3, has stated that the stock exchange is considering going down the path of blockchain oracles and utilising them to connect external data for the future CBDC. For some insight into blockchain oracles, they are entities that help create a bridge for blockchain networks and connect them to external systems.
Oracles enable any smart contracts and protocols to help with the execution; however, this is based on the real-world inputs and outputs. According to Cointelegraph, the CEO of the exchange discussed the plan for bringing in oracles during a CBDC online meeting. Within the meeting, he added that the company is indeed looking into the new technology and even strongly suggested that oracles may be the way forward to create a programmable cash payment gateway.
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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