Blocktrade.com has Released a Beta of Its New Cryptocurrency Exchange
Block.one has a released a beta of their new exchange they have been working on the last year. The beta is to test the exchanges security and performance, a main objective of the project. Blocktrade will use the data generated to complete upgrades for when the platform becomes live.
Blocktrade.com applied for an MTF license under the recently implemented MiFID II framework to be a fully regulated exchange before the platform becomes live. They have a strong agenda to create a secure efficient platform.
Beta trading began with a total of five cryptocurrencies: Bitcoin, Ethereum, Litecoin, Bitcoin Cash and XRP (Ripple). Though this is a beta, traders will be able to return to the platform to sell Ethereum or sell Bitcoin. The platform functions like a normal exchange, the orders are added to the orderbook and then matched by price utilising a multitude of APIs to create a seamless autonomous experience. Some features within the system that use APIs need authentication while others are automatic.
As a fully registered exchange, Blocktrade.com could appeal to many institutional investors looking for transparency and compliance with less risk. A lot of investment waiting to enter the market will come from institutional investors, unable to make the investment without the correct regulatory framework.
Exchanges will be subject to regulations they’ll have to adhere to. Blocktrade.com has been proactively laying the foundations for themselves for future regulations to come. Greater availability is added as more and more exchanges enter the markets. It’s becoming much easier to sell cryptocurrency or cash out Bitcoin.
The markets are showing maturity as more companies within financial technology look to be regulated.
If you’re looking to sell crypto or keep up to date with the latest happenings in the market, be sure to visit BC Bitcoin.
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