WARNING Nicehash is Closing UK

what is up ladies and gentlemen welcome back to the brandoncoin YouTube channel and today um I figured we we'd touch on a topic uh because apparently this is affecting quite a few people I had no idea this was happening but nice hash is discontinuing Service uh for the UK or the United Kingdom um that definitely affects uh quite a few people I didn't know it had happened until I got some comments I got some emails and they were like I don't know why blah blah blah blah so I did a little looking and it looks like this one was posted this articles was posted last month let me pull it up here there we go so Nash becomes the latest crypto firm to leave the UK the cloud mining service is discontinuing services in the United Kingdom ahead of new FCA regulations the cloud mining platform Nash said that it will end UK access to its services in a statement emailed to users around September 22nd or 27th sorry uh the company said that it will no longer provide services to users residing in the United Kingdom starting on October 10th so that's in 8 Days um individuals residing in the UK so ladies and gentlemen if you're in the United Kingdom and you have money on nice has you need to get it out now um it's never been a good practice to leave any kind of significant amount of money on nice has because they got hacked don't think they're going to get hacked again but it happened once it can happen twice um so yeah pull that money out uh UK residents will not be able to open new accounts after the deadline the company also said that the existing UK users will no longer be able to trade deposit or withdraw funds after that date so yeah uh it is advised users to disconnect miners at an early date to uh in order to Avo avoid any possible loss of income Nas said that change in availability applies to all services including its exchange mining service its wallets and its hash power Marketplace the latter of which allowed users to buy and rent hash power on a peer-to-peer basis the company said that the decision is due to a regulatory changes in the UK and it added that it aims to resume its services in the country as early as possible oh FC a um though Nash did not state precisely which regulations caus the service reduction the UK Financial conduct Authority or FCA FCA just sounds like a horrible acronym anyway All three-letter alphabet soup right there um they have implemented new rules around advertising and promoting crypto Services those rules take effect in October so it makes sense that they would turn their services off in October in addition to imposing broad advertising regulations the upcoming coming rules will go as far as to ban cryptocurrency referral schemes the rules also describe severe penalties for violations including the unlimited fines and up to two years in prison unlimited fines that's something for sure uh other cryptocurrency companies have also reduced their UK services in light of the upcoming regulations those companies include PayPal bybit and luno binance additionally ended its attempts to register with the FCA this summer how however this may be due to regulatory difficulties in general rather than the upcoming policy so holy smokes there's I mean there's a lot of people pulling out of U the UK um for crypto in general not a good look in my opinion but um you know that's I guess the UK their government's trying to protect their people keep the Bitcoin out of their hands um man hm not that you guys need nice hash you can just direct mine or mine through one of the other services but I don't know if those services are going to be affected as well um it'd be curious to find out so I guess we'll come back to this after October 10th but ladies and gentlemen if you are in the United Kingdom and you have money on Nash this is your literally like last call get your get your coins get your crypto get your mama out of nice has okay so yeah I feel like uh that was probably a necessary topic to cover uh because people could potentially lose money but anyway other than that I'm going to sign off here I hope you all have a good night I will see you on the next one and um anybody mining Manero what's going on with the sharp decline in profitability comment down below uh cuz I was looking and I don't really see anything other than the fact that it went down like it halfed less than half it went down big time so all right guys later peace

As found on YouTube