Good News, Not so Good News & Great News from our CEO & Co-Founder, Simon Dixon

Good News, Not so Good News & Great News from our CEO & Co-Founder, Simon Dixon

To all investors,
We have good news, not so good news and great news for all our investors.
Firstly the good news…
In case you haven’t tried it out yet, all non-US investors are able to purchase Bitcoin, Ether, USDT and other virtual assets easily from within our platform now that we have completed our registration to be one of the first virtual asset service providers in the world with our regulator CIMA.  Head over to the funds section of your account and deposit your local currency by bank wire, stablecoins, Bitcoin or Ether and trade them by clicking ‘manage’ next to the relevant wallet in the funds section of your account.
This registration significantly expands our reach and opportunity to work with more investors on a much wider scale, therefore enabling us to  offer more innovative services to the masses, rather than just high net worth investors. We are offering some of the most competitive rates with a simple 0.5% trading fee and have more products and services we want to bring to you in the years ahead to invest in the Future Of Finance.
Secondly, the not so good news…
Regulations are getting stricter by the day. We are the longest standing company in Bitcoin and the world’s first crypto securities business, as we have always aimed to stay one step ahead of regulations.
Now that we are able to offer more virtual asset services to the masses, we are required by our regulator to reach out to all of our investors and get you to confirm your investor status so that we can comply with CIMA regulations and only offer you the services we are able to offer to different types of investors on our global Online Investment Platform.
This means that we are required to re-classify your investor status by 11th October 2021 to bring your account in line with new requirements from our regulator CIMA as well as local requirements in your country.
We hate asking you for more information and documents as much as you hate providing them, but to survive another decade and many more after that, we aim to continue staying one step ahead of regulations. You will start to notice similar requests across all your favourite crypto currency service providers over the months and years ahead as our industry has reached a critical size, partly due to your investments through our platform making our portfolio companies much larger. We are victims of our own success, but here’s what you will need to do to continue using our services after October 11th 2021 when we release a new version of our BF Identity solution that we have been working on with guidance provided from our regulator:
1 – All non-US investors that provide additional information are able to buy, sell and trade crypto on our platform and gain access to other innovative virtual asset services in the future no matter if you are a High Net Worth investor or not.
2 – Those that re-classify their accounts and provide documentation to prove their investor status as High Net Worth (HNW) will be able to use our primary and secondary markets as usual to invest in equity and other securities through our Online Investment Platform while we reclassify all our investors.
3 – We have applied for an additional license with our regulator to expand who can invest through our platform so that non-high net worth investors are also able to invest and as soon as we have reclassified all our investors our regulator will be updating us on this application.
Finally, The Great News…
We don’t want you to miss out on great deals due to regulatory updates, so we have decided to put most of the great new equity and security deals we have coming up on hold from 11th October 2021 until the new license application has been secured pending approval from our regulator. If this is achieved by early 2022 then we will open up pitches again as usual to a much wider audience than ever before. If you re-classify as High Net Worth (HNW) then you will be able to continue to use your account as usual.
What Can I Do Whilst I Wait?
We think that leading up to the New Year is the best time to take a step back and plan out your financial goals, investment strategies, do some tax planning and sort any tax messes, think about your crypto estate and interference plan and generally plan your financial future.
With that in mind, while our compliance team work around the clock to review your accounts, we will launch the much anticipated second annual Retirement Plan ฿™’ Online Coaching Program that now has over 20,000 investors signed up on the waiting list whilst we continue to roll out our brand new Retirement Plan ฿™’ Portfolio Builder service that allows you to own your own automated asset protection structure for investing in Bitcoin, Ether and yield whilst building a portfolio of equity in the largest companies in crypto.
What Do I Need To Do Now?
Nothing for now, but after 11th October 2021, make sure you re-classify your account with our newly released BF Identity Version 2 and we will open up our services to you based upon your current situation as our regulatory approvals expand. Make sure you whitelist ‘[email protected]and [email protected]’ so all updates come straight to your inbox so that you don’t miss a thing.
Looking Ahead…
To round this update off, the great news is that we have created a lot of High Net Worth (HNW) investors at having allowed you to invest in more unicorns, receive more Bitcoin and Ether dividends in the early days and provided more crypto focused wealth management and retirement planning solutions than any other Online Investment platform in the world.
We are celebrating over $1bn invested in funding rounds listed on our Online Investment Platform and the average investment on our platform has given investors over 6x returns across all winners and losers. We intend to continue to provide innovative services to our investors for many more decades ahead and therefore have to stay on the right side of regulations in order to continue to bring you more of what we have already brought to our investors.  

Thank you.
Simon Dixon

P.S. In case you missed it, Simon Dixon covers everything in this blog in BF LIVE Ep.93. Check out the livestream recording here.

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