BingX has been granted regulatory approval to operate as a Money Service Business (MSB) exchange in the United States and Canada. BingX US Limited, a social cryptocurrency trading platform, has been designated as a money services business (MSB) by the US Department of Treasury's Financial Crimes Enforcement Network (FinCEN). The US Department of Treasury has given it permission to operate in foreign exchange trading. Meanwhile, BingX CA Limited is an MSB in FX Dealing and Dealing in Virtual Currencies with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Elvisco Carrington, BingX's Global Communications Manager, commented about the developments. He acknowledged his pride while also promising to uphold the company's excellent standards.
Without a doubt, the United States and Canada are massive markets that will benefit BingX in a variety of ways. The fact that we can reach new people in both nations is maybe the most significant benefit. One of the most crucial options for consumers is to select a highly compliant trading platform. As part of BingX's worldwide ambitions, it aims to meet and exceed high compliance and regulatory requirements while developing new goods and services, and will continue to do so. Our top objective is to establish a high degree of industry trust so that users may feel safe and secure when utilizing our trading platform.
BingX has reached a critical milestone with the acquisition of US and Canadian licenses. This is due to the rigorous and complicated regulatory environments that exist in these wealthy countries' financial markets.
The crypto market platform will now be allowed to provide government-approved products and services in both nations. As a consequence, BingX is now able to participate in traditional markets as a fully compliant entity.
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