By Ed D - Crypto Investor 13-07-2022
Three applications of Promsvyazbank, a state-backed Russian bank, are no longer accessible on the App Store, according to RBC, a Russian news agency. Mobile banking, PBS investing and PBS business are examples of these applications.
Now is the time to be investing in cryptocurrency
Following Russia's "special military operation" in Ukraine, the West began putting sanctions on the country. Sanctions have been placed on Russia's four main banks by the United States. These sanctions, according to US Vice President Joe Biden, would "restrict Russia's capacity to do commerce in dollars, euros, pounds, and yen in order to participate in the global economy."
PSB informed its users through email that it was seeking to have the app reinstalled on the App Store. Those who have not yet downloaded the program are encouraged to do so via their website's "PSB Internet Bank."
"All of their assets under US jurisdiction have been frozen," the US Treasury Department said, "and US people and businesses are forbidden from conducting business with them without special approval from the office of foreign assets control." In the midst of Ukraine's continuous assault, the crypto to crypto community has stepped in to help the Ukrainian military and people. Over $4.1 million in cryptocurrency has been given to the cause.
The CEO of FTX, one of the most popular cryptocurrency exchange platforms, has stated that any Ukrainian who registers on the website would receive a free $25 bonus. Vitalik Buterin, the co-founder of Ethereum, has also called for an end to the conflict, claiming that it is harming both Ukrainians and Russians. Buterin is a programmer who was born in Russia.
Russia has hinted about embracing foreign Bitcoin trading before the invasion. Putin has also stated that trusted bitcoin mining might provide significant revenue for the government.
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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org Kind Regards