By Harry B - Crypto Specialist - 04-09-2021
One of the most significant decentralised exchange platforms, Uniswap (UNI), has been hitting the media in the cryptocurrency trading industry as the US Securities and Exchange Commission (SEC) has launched an investigation into the creators of Uniswap Labs.
Reportedly, the SEC needs intel regarding the platform's marketing and investment services. As previously reported by the Wall Street Journal, a spokesperson for Uniswap has stated that the platform is committed to following the rules and regulations. The spokesperson further said that the company would also comply with providing any and all information to regulators to help back any inquiry they may have.
The investigation was brought on in the wake of recent regulatory examination of the decentralized finance (DeFi) business in the United States. SEC Chair Gary Gensler recently disclosed the regulator's security objective to protect US citizens who invest in cryptocurrency.
The Uniswap exchange platform allows its users to swap cryptocurrency through its decentralised technology, meaning users can deal with each other rather than through a central authority. The platform is known for being the first DeFi initiative exchange to reach $1 billion in fees.
Uniswap is known for generally being a user-centric platform. Reportedly, the exchange always upgrades and improves its offers and services to run much more smoothly for its trading processes on the platform.
The Decentralised Finance industry has witnessed rapid growth within the last year. Back in September 2020, the DeFi industry was worth $8 billion, currently, that figure has increased to a whopping $174 billion.
If you are looking to Buy and Sell cryptocurrency, but you’re not sure where is the best place to invest in Bitcoin (BTC), then you can head over to BC Bitcoin where you can safely start investing today.
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