Dave – Cryptocurrency Enthusiast
In a groundbreaking update from Japan on the latest cryptocurrency news front, local startups may soon be able to tap into public funds through cryptocurrency investment avenues. Instead of conventional stock offerings, these startups can now consider issuing crypto assets to bolster their funding.
Japan's premier financial news outlet, The Nikkei, brought to light that this novel system primarily targets a niche category dubbed Investment Business Limited Partnerships (LPS). Historically, Japan's approach to crypto portfolio diversification and trade crypto dynamics had been more reserved compared to global counterparts. Nevertheless, recent developments indicate a positive shift in this stance.
Taking a proactive step towards fostering secure cryptocurrency practices and legal cryptocurrency operations, the Financial Services Agency (FSA) of Japan, on Aug. 31, proposed amendments to the prevailing cryptocurrency-related tax code. A highlight of this amendment includes potentially exempting local businesses from the taxing burden of "unrealized gains" on cryptocurrencies by year-end.
In a bid to underline Japan's intent to be at the forefront of next-gen internet transformations, Prime Minister Fumio Kishida, during his keynote at the WebX conference in Tokyo, shed light on the nation's commitment to the burgeoning Web3 industry. He emphasised the transformative potential Web3 holds, not just for the digital realm but also as a catalyst for societal evolution.
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