By Harry - Crypto Specialist - 02-12-2021
Topics in the decentralised world have been growing massively in popularity over the last year. Some niche categories include decentralised blockchain technology and decentralised finance (DeFi) projects. According to sources, the total value locked (TVL) for all DeFi projects has now surpassed $111 billion. The latest figure for the TVL represents a 420% total increase in 2021. While the industry continues to expand and grow by researching and creating new advanced technologies and liquidity projects, there comes equally difficult issues to solve. Some of the main problems are the credibility of DeFi projects and their fast-growing risks and hazards. Many of the issues also can affect decentralised finance crypto coins as the more problematic the DeFi becomes the more the price to buy crypto tokens from DeFi initiatives fluctuates. In order to create solutions for these increasing problems, the SYNC Network has carefully planned a novel method of producing liquidity non-fungible tokens within the DeFi industry.
The SYNC Network is a layer-2 scaling platform that is 100% decentralised, community-governed, and is also built within the Ethereum (ETH) ecosystem. By implementing the company’s strategy, SYNC is hoping that they can improve the resilience as well as decrease the risks that come with running a decentralised business. The solution the SYNC Network is providing are Crypto Bonds. Crypto Bonds are essentially a new version of an NFT issued by SYNC. Every time a new NFT is issued, some of SYNC’s native crypto market investment, $SYNC, gets burned. Reportedly, Crypto Bonds are more advanced than your typical NFT art piece, this is because Crypto Bonds hold large amounts of data within them. The SYNC Network uses these upgraded NFTs as digital interest-earning assets.
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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