The most current set of American Banker forecasts for 2022 was released, and the findings of a survey of 175 senior banking executives from regional and worldwide financial institutions were unexpected. Before we get into the specifics of the study, it's important to note that American Banker magazine is widely considered as a reliable source of information on banking regulation, technology and innovation.
The following are the survey's main findings:
Interestingly, banks executives feel that how customers move money and the many payment choices available to them will be a significant emphasis this year as well, according to the report. It's no secret that banks battle fiercely to retain their clients and increase their "wallet share" by offering a variety of crypto buying and crypto selling services.
Auto bill payments, direct deposits, low-cost cash transfers and bank-branded debit or credit cards are among the services available. Not only can crypto projects perform all of these functions automatically and at a lower cost than banks at the moment, but blockchain-based financial transactions can settle in seconds rather than days.
Several credit cards also offer crypto incentives in the form of a percentage of the card's balance in the user's selected cryptocurrency. Banks that implement even a handful of these services will stand out from the competition – and the poll findings suggest that banks are looking for ways to gain a competitive edge.
While no one can forecast the future of any financial activity, the fact that global banks and lending institutions are seriously exploring increasing their cryptocurrency and blockchain alternatives this year is something that cannot be overlooked. Cryptocurrencies would have a bright future if they were adopted by huge financial institutions.
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