Dave - Bitcoin Specialist
According to a statement from Coinbase, they are now formally registered with the Dutch Central Bank (De Nederlandsche Bank or DNB). It is the first significant cryptocurrency exchange in the world to receive DNB regulatory clearance.
After successfully registering with the DNB as a crypto service provider, Coinbase is now able to deliver its full range of retail, institutional, and ecosystem goods and services to its Dutch consumers.
Coinbase stated in their announcement blog post that they view this registration as a very important turning point in the company's ongoing global expansion.
The cryptocurrency exchange has also expressed its opinion on the success of the regulatory approval. Regulations, according to Coinbase, promote the growth of cryptocurrencies. Setting clear guidelines promotes an atmosphere that is favorable to innovation and development while boosting public and policymakers' confidence in the sector.
Nana Murugesan, vice president of internal and business development at Coinbase, has stated that the company wants to work with regulators, governments, and policymakers to become the most secure and trustworthy platform in the world. “Coinbase prides itself on being a compliance-driven company.” he continued. “The Netherlands is a crucial market for cryptocurrencies outside of the US, thus I'm very looking forward to Coinbase introducing the possibilities of the crypto economy to the market here.”
With specific hubs located out of Ireland, the UK, and Germany, Coinbase presently provides crypto goods and services throughout 40 European nations. However, the platform plans to continue its growth in other important areas by registering and applying for licenses by local regulations.
As crypto is getting more accessible, one is looking for opportunities to jump into the crypto wheel. More corporations - as discussed in the article – such as banks, start to show their interest in crypto. You can start investing yourself as well through a well-known crypto broker – BCBitcoin. Here the team works to inform people about different cryptocurrencies, create various guides as well as create a safe space for their crypto assets. Moreover, BCBitcoin provides a service where you can buy and sell cryptocurrency or even swap cryptocurrency.
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