Donald Trump “Not a Fan” of Bitcoin and Cryptocurrencies
By Tyler Smith – Crypto Investor
US President Donald Trump ranted last Thursday that he isn’t a fan of those buying Bitcoin or any of the other cryptocurrencies. He says that cryptos “aren’t money” and also spoke out about their price volatility relative to the dollar when he became president of the United States.
Trump even went on to discredit Facebook’s Libra project by saying that “will have little standing or dependability” and also suggested US regulators would have the social media powerhouse subjected to regulation:
“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations”. Selling and Buying crypto does not constitute as a bank but it is new territory for Facebook.
Trump has also previously lamented Facebook and other social media platforms for banning right-wing figureheads. Trump has yet to discuss the social media king’s crypto plans, even after Facebook released its white paper and other supporting documents for Libra in June.
According to Trump’s Twitter tirade, he says, “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”
In Trump’s final tweet he states that the USA has only one real currency and suggesting it is more reliable and dependable then cryptocurrencies. This may currently be true, but more are buying and selling Bitcoin and the industry is growing at a steady rate. Trump is strong on his belief that the US dollar is the most dominant currency in the world and will always be.
Even though Trump has yet to make a move on cryptocurrencies prior to his Thursday Twitter rant, his Treasury Secretary has strongly advocated for better cryptocurrency regulations to protect those seeking to buy and sell cryptocurrency.
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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