Dave – Cryptocurrency Enthusiast
On the latest cryptocurrency news front, Japan's digital finance landscape is set for an exciting expansion. Cryptocurrency investment firm, DeCurret Holdings, recently unveiled plans in a white paper detailing the upcoming launch of its yen-backed digital coin, named "DCJPY." The company's ambitious plan will see this coin go live in July 2024.
Diving into the white paper's content, the DCJPY Network promises a dual-zone structure. The Financial Zone will feature banks employing blockchain technology to mint deposits as digital currency. On the other hand, the Business Zone focuses on facilitating transactions and offers platforms for issuing non fungible tokens, security tokens, and governance tokens, thus enriching the crypto portfolio options available to investors.
Aozora Bank, a well-established commercial institution boasting 19 domestic branches in Japan, will take the reins as the primary issuer of DCJPY. The coin's value finds its anchor in deposits made in Japanese yen. DeCurret, in its previous communications, highlighted a consortium of about 70 Japanese entities expected to collaborate in the DCJPY Network. Although the recent white paper refrains from naming these participants, DeCurret's backing from 35 influential shareholding companies is noteworthy, with industry giants like Japan Post Bank, Mitsubishi, and the Dentsu Group in the fold.
As part of their commitment to transparent crypto portfolio management and fostering secure cryptocurrency practices, DeCurret will host an in-depth seminar in Tokyo on Oct. 18. The event is dedicated to shedding light on the project's nuances.
While DeCurret strides ahead with its yen-backed coin, the Bank of Japan isn't lagging. Their latest cryptocurrency news from May 2023 shared insights from the second phase of their central bank digital currency (CBDC) experimentation. Plans for the official issuance of a "digital yen" are on the horizon, with a decision slated for 2026.
Adding to the vibrant cryptocurrency investment landscape in Japan, both Binance and Mitsubishi UFJ Trust and Banking Corporation have their sights set on introducing Japanese yen and other foreign currency-denominated stablecoins in the nation. With multiple entities diving into the realm of trade crypto and digital currencies, Japan's position as a hotspot for legal cryptocurrency developments continues to solidify.
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