David – Cryptocurrency Enthusiast
In a notable political development, Thailand's parliament has chosen Srettha Thavisin, a prominent figure in the real estate sector, as the nation's upcoming prime minister. Thavisin, previously at the helm of Sansiri, a major Thai real estate conglomerate, also carries a noteworthy connection with the cryptocurrency landscape.
On August 22, Srettha Thavisin secured his position as Thailand's future prime minister through the Pheu Thai Party, emerging as the sole candidate with an impressive tally of 482 out of 747 votes in the parliament.
This appointment holds the potential to cast an impact on Thailand's cryptocurrency sector, considering Thavisin's extensive involvement with the digital asset industry during his tenure at Sansiri. In April 2023, he stepped down from his role as CEO of Sansiri, aligning with speculation about his elevation to the prime ministerial role. Coincidentally, he divested his 4.4% stake in Sansiri around the same time.
A significant episode in Sansiri's cryptocurrency investment journey unfolded as it participated in a $225 million funding round for XSpring Capital, a cryptocurrency-friendly investment management firm, in 2021. Subsequently, XSpring launched a comprehensive cryptocurrency trading platform in 2022, aspiring to secure a top-three position in the cryptocurrency exchange market by 2025.
Beyond these investments, Thavisin's Sansiri played a key role in the issuance and distribution of its proprietary token through XSpring in 2022. Named the SiriHub Token, this digital asset formed an integral part of a real estate-backed initial coin offering, offering a total of 240 million tokens to the public.
Additionally, Thavisin's affiliation with the Pheu Thai Party, which joined in November 2022, is underscored by its proposal to allocate funds to Thai citizens through digital currency. This visionary proposal entails providing everyone with 10,000 Thai baht (approximately $285) using digital currency, reflecting a forward-looking approach to financial innovation.
As Thavisin prepares to take office by the end of September, the influence of his crypto-linked background on Thailand's cryptocurrency policies becomes an area of keen interest. Thavisin expressed his commitment to elevate the nation's well-being and economy through a message on social media platform X (previously known as Twitter). He articulated:
"My adversaries are poverty and the inequality of the people. My objective is the welfare of all Thai citizens."
This development unfolds following Thailand's cabinet decision to offer tax incentives for companies engaging in investment token issuance, encompassing tax breaks for corporate income tax and value-added tax. The government foresees that investment token offerings will contribute 128 billion Thai baht (approximately $3.7 billion) to the economy over the next two years.
In an era where secure cryptocurrency practices gain momentum, Thavisin's ascent to the position of prime minister adds a unique dimension, potentially steering Thailand's crypto landscape into uncharted yet promising territory.
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:**
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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:**
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