Circle's USDC has dethroned Tether (USDT) on the Ethereum network, according to a report, with a 40.06 billion token supply. USDT, which can be used to buy altcoins, is currently the second largest stablecoin, in the world because of this. USDT is now ranked second on the Ethereum network for the first time in history. USDT now has a total supply of 39.82 billion, which is close to USDC's 40 billion supply. Meanwhile, the ongoing debate surrounding the USDT has led to its recent market fall. Discussions on whether Tether is collateralized and how the corporation handles its reserve cash are among these topics.
Coinbase President Emilie Choi, on the other hand, offered her thoughts on USDC in Q4 of 2021. According to an Independent Accountant's Report by Grant Thornton, the USDC might be moved to cash and US Treasury bonds, which would result to a more effortless way of cashing out cryptocurrency.
Nonetheless, TerraUSD (UST) has exceeded Magic Internet Money (MIM) and DAI, in addition to USDC and Tether (DAI). It has a market valuation of $10.7 billion, making it the world's fourth biggest stablecoin. At the time of writing, the performance of centralized stablecoins outperforms that of decentralized ones on the market. Meanwhile, traders and many crypto apes feel that USDT has a good chance of taking over USDC's first position in the next days.
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 email@example.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 firstname.lastname@example.org 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 email@example.com Kind Regards