Nicehash Stops Service to The UK

The Fallout from the latest Cryptocurrency bare Market is not quite Over nice has has stopped services to The UK after new FCA rulings let's get Into It welcome back everybody so first Things first is we got a email that was Posted by Anon over on Twitter also Known as head Nakamoto that was from Nice has and the following we regret to Inform you that due to the recent Regulation changes in the United Kingdom We are no longer able to provide Services to those residing in the United Kingdom this unfortunately applies to All of our services on nice hash and Nice X including the exchange mining the Hash power Marketplace wallets and all Other services that we provide this is The crazy part today is October 10th When we release this video and it goes On to say we would like to inform you That from the 10th of October 2023 the Following changes will take place Effective from the 10th of October 2023 Nice and Nix will no longer be accepting New account openings by any identified United Kingdom residents in addition to That for existing users effective from The 10th of October you will no longer Be able to mine trade deposit or Withdraw funds from our platforms we Strongly recommend that you withdraw Your funds as soon as possible before

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The 10th of October if you are mining With Nash we also recommend that you Disconnect your miners in good time to Avoid any potential loss of income due To the cutoff date we would like to Highlight that these changes are solely Due to the new regulatory landscape in The United Kingdom and we are working Hard to be able to resume our services To UK residents as soon as possible our Mission at Nash is and always has been To encourage the adoption of Bitcoin Worldwide and we will be taking all Necessary steps to comply as required in The evolving crypto industry in order to Pursue that goal and then they go on to Thank everybody now this is quite Difficult especially if you got this Email on the 8th of October when it was Sent out that still only gave you a Couple days to go ahead and withdraw all Of your funds plus any mining stuff that Was laid over Etc you could be in a Position where well nice house once Again just ends up with your Bitcoin Unfortunately which seems to happen all The time with nice hash and centralized Services like nice hash in general so Just a quick reminder that if you are Mining to nice has and you are in any Other regulatory geographical location Make sure that you go ahead and are Withdrawing your funds daily right That's pretty much what it comes down to

And if you can't afford the fees to Withdraw daily consider utilizing some Other service that is more decentralized With when mining to a specific service Like a mining pool Etc and maybe Question whether or not you want to Leave a bunch in there in an exchange This goes along with any other Centralized exchange remember not your Keys not your crypto and this is just I Mean frankly probably the beginning of The attack on crypto by various States Etc and banking Industries across the Globe so if you think that your country Is safe right now I would I would highly Disagree whether you're in the United States or you're in Canada or Mexico or Russia or wherever it may be Ukraine Israel doesn't really matter at this Point you are basically risking Everything that you have in a Centralized exchange if you were leaving It there on a daily basis so that's Going to be the big disclaimer once Again not your keys not your crypto now This actually came as a result of what Is known as the FCA which is short for The financial conduct authority over in The UK here recently and the rule came Into effect on October 88th which is When you got the email from Nash there Was very little forewarning and the Alerts just started going out there Currently have been 146 alerts for from

The FCA for specific businesses related To cryptocurrency that don't only Include cryptocurrency businesses but Also social media plat forms app stores Search engines domain name registar and Payment firms basically saying all of Those need to consider the alerts that They've basically come out with against These crypto companies and remove them You know basically wipe them out we're Talking about censorship of Cryptocurrency in the UK based off of a Centralized Authority known as the FCA Which is just basically crazy I mean at This point that is what we're talking About we are talking about censorship in General it'd be one thing if I think in My humble opinion you had them come out And say hey these are the 146 we don't See you know we don't think we should Support we're going to say you know They're breaking the laws we'll pursue That with each individual company but They are basically soliciting uh every Social media platforms app stores search Engines and domain name registar to Basically go ahead and censor all of These these sites as well which is quite Incredible uh I think going a little bit Too far I'd like to hear your thoughts And opinions in the comments section Below is this taking it too far is this Akin to censorship when we're talking About requiring basically well the

Removal of any kind of uh links or any Sort of mention of these products Anywhere and and I'd be curious to see Do you think that social media sites Will comply with this do you think like Twitter Facebook Instagram and so on Will comply with this and then does that Make basic basically the UK version of All these apps look completely different I mean obviously we've already seen huge Differences between the way Facebook Looks in one country to another country And the same with Instagram and so on This is just further uh Further exacerbating that issue in my Humble opinion and it's quite crazy now If you want the entire list I will leave It down in the description below it's Over here at the and you Can search the entire warning list Interestingly enough I don't know if It's because nice has is under another Holding company I did do a quick search For nice has it didn't come up just to Be clear but there are a lot of Different companies in here so if you're Curious you can go through them all and Check it out that being said a couple of Notes Here is that it does appear will still be available in The UK for trading Etc so that is a Service that you can utilize to purchase Some cryptocurrency if you like I think Getting rid of the mining services in

That area is really going to make it a Lot more difficult with the increased Cost of electricity in that area in that Region as well it makes it a lot more Difficult for regular citizens to obtain Bitcoin in kind of a clean untouched Manner it seems they are trying to get All of the inlets in through Fiat and All of the outlets through Fiat Obviously for taxing purposes that ET But like we always go back to the point Of Bitcoin is to enable peer-to-peer Transactions without the interference of Governments or well in this case Governments but also or Banks so this Really goes against all of that and Really to get rid of it and this kind of Goes all the way back to talking about Like proof of stake versus proof of work The only way to combat this sort of Thing is to have a proof of work Cryptocurrency that people are able to Mine and and get that kind of Virgin Crypto without the interference of the State and then be able to utilize that Peer-to-peer without that kind of Interference and with something like Proof of stake where it always requires Some sort of Fiat onramp well you're Just out of luck I hope you guys Enjoyed this video I'd like to hear your Thoughts and comments down in the Comment section below once again don't Forget you can check out my crypto

Mining ecourse at sonof where With a purchase you can get a free month Of supporter status on sun of. where I cover my daily booves Thanks for watching and I will see you Next Tuesday

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