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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
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    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    $3.62B Already Sold in 2025

    $3.62B Already Sold in 2025

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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    Pudgy Penguins Game ‘Pudgy Party’ Launches on iOS and Android

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    Pudgy Penguins and Mythical Games Launch Pudgy Party Game

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    KuCoin Pay Joins Forces with 2Game Digital to Drive Web3 in Gaming

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    GaFin Joins Cyber Crash to Advance Web3 Gaming

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    Stability World AI Adds Games to Transform the Future of Web3 Gaming

    Play Solana to ship handheld gaming device in October

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    The Rise of Indian Online Casinos: Affiliates, Crypto, and Seamless Gaming?

  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    What is Cloud Mining? A Beginner’s Guide

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    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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Home Mining

NiceHash becomes latest crypto firm to leave U.K.

October 16, 2023
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NiceHash becomes latest crypto firm to leave U.K.
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The cloud mining platform NiceHash said that it will end U.K. access to its services in a statement emailed to users around Sept. 27.

READ ALSO

Auto Giant Unveils Impressive 153 BTC Haul

Bitcoin Hashrate Rockets to New Heights, Smashing Through 980 EH/s Barrier

The company said that it will no longer provide services to users residing in the United Kingdom starting on Oct. 10, 2023. Individuals residing in the U.K. will not be able to new open accounts after that deadline. The company also said that existing U.K. users will no longer be able to trade, deposit, or withdraw funds after that date. It advised users to disconnect miners at an early date in order to avoid any possible loss of income.

NiceHash said that the change in availability applies to all services, including its exchange and mining services, 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 regulatory changes in the U.K. and added that it aims to resume its services in the country as early as possible.

New FCA regulations are likely at play

Though NiceHash did not state precisely which regulations caused the service reduction, the U.K. Financial Conduct Authority (FCA) has implemented new rules around advertising and promoting crypto services. Those rules take effect in October.

In addition to imposing broad advertising regulations, the upcoming rules will go as far as to ban cryptocurrency referral schemes. The rules also describe severe penalties for violations, including unlimited fines and up to two years in prison.

See also  From 'Not a Fan' to Crypto President—With His Own Meme Coin

Other cryptocurrency companies have also reduced their U.K. 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. However, this may be due to regulatory difficulties in general rather than the upcoming policy.

The post NiceHash becomes latest crypto firm to leave U.K. appeared first on CryptoSlate.



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