NiceHash
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NiceHash, a cloud-based cryptocurrency mining platform, has informed its users via email that it will cease providing services in the United Kingdom (UK) starting from October 10th (local time). After this date, UK users will be unable to create new accounts, and certain functions like fund transactions, deposits, and withdrawals will be restricted.
NiceHash attributes the decision to discontinue UK services to changes in the regulatory environment within the country. The move comes in response to forthcoming regulations from the UK's Financial Conduct Authority (FCA) regarding the advertising and promotion of cryptocurrency services, set to go into effect in October.
NiceHash has expressed its intention to resume services in the UK as soon as possible, but this will likely depend on regulatory developments and compliance with the new rules established by the FCA. The cryptocurrency industry is continually evolving, with regulatory changes impacting various aspects of the sector in different regions around the world. 🇬🇧💼 #NiceHash #CryptocurrencyRegulation #UKCrypto
NiceHash attributes the decision to discontinue UK services to changes in the regulatory environment within the country. The move comes in response to forthcoming regulations from the UK's Financial Conduct Authority (FCA) regarding the advertising and promotion of cryptocurrency services, set to go into effect in October.
NiceHash has expressed its intention to resume services in the UK as soon as possible, but this will likely depend on regulatory developments and compliance with the new rules established by the FCA. The cryptocurrency industry is continually evolving, with regulatory changes impacting various aspects of the sector in different regions around the world. 🇬🇧💼 #NiceHash #CryptocurrencyRegulation #UKCrypto
What is a Bitcoin block halving event?
Block halving events happen every 4 years or 210,000 blocks on Bitcoin blockchain. Bitcoin's initial block reward was 50 BTC. The current block reward is 6.25 BTC, the next block reward will be 3.125 BTC. This lowers the rate at which Bitcoins are generated. The halving is periodical and is programmed into Bitcoin's code.
Why was this done?
Conventional FIAT currencies are subject to inflation due to the ability of governments or banks to increase the money supply. Unlike these currencies, Bitcoin has a capped total supply of 21,000,000 BTC, meaning no additional coins can be created beyond this limit. This finite supply, alongside potential changes in demand as more people adopt Bitcoin, positions it similarly to gold - a resource with a limited supply that cannot be artificially increased.
Bitcoin and NiceHash
NiceHash seamlessly integrates with Bitcoin, offering users versatile ways to engage with the crypto mining and trading ecosystem. Here's how NiceHash enhances your Bitcoin experience.
#Halving #NiceHash #Verstalie #bitcoinhalving
Block halving events happen every 4 years or 210,000 blocks on Bitcoin blockchain. Bitcoin's initial block reward was 50 BTC. The current block reward is 6.25 BTC, the next block reward will be 3.125 BTC. This lowers the rate at which Bitcoins are generated. The halving is periodical and is programmed into Bitcoin's code.
Why was this done?
Conventional FIAT currencies are subject to inflation due to the ability of governments or banks to increase the money supply. Unlike these currencies, Bitcoin has a capped total supply of 21,000,000 BTC, meaning no additional coins can be created beyond this limit. This finite supply, alongside potential changes in demand as more people adopt Bitcoin, positions it similarly to gold - a resource with a limited supply that cannot be artificially increased.
Bitcoin and NiceHash
NiceHash seamlessly integrates with Bitcoin, offering users versatile ways to engage with the crypto mining and trading ecosystem. Here's how NiceHash enhances your Bitcoin experience.
#Halving #NiceHash #Verstalie #bitcoinhalving
