Bitstamp Exchange to Suspend Trading of Several Popular Altcoins Due to US Regulatory Concerns – What Coins are Included?
In a blog post released on August 8, Bitstamp, the oldest cryptocurrency exchange, declared its intention to "permanently" halt trading of certain altcoins for its users based in the United States, starting August 29, 2023.
The suspended assets include Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), NEAR Protocol (NEAR), The Sandbox (SAND), and Solana (SOL).
"Considering recent developments, we are making some changes to our crypto offerings—specifically for our customers residing in the United States," the exchange said in the announcement on Tuesday.
While Bitstamp has not explicitly stated the motives behind its decision, there are indications that the recent move could be related to the US Securities and Exchange Commission's (SEC) recent actions.
The SEC classified all seven tokens as unregistered securities in its complaints against major exchanges Binance and Coinbase. This context suggests a possible link between Bitstamp's actions and the regulatory concerns raised by the SEC's stance.
"At Bitstamp, we have a comprehensive framework in place to continuously evaluate the cryptocurrencies we provide, taking into account the dynamic regulatory environment," said Bitstamp.
Bitstamp has clarified the upcoming changes regarding trading activities involving seven tokens. While trading for these tokens will be suspended, users will retain the ability to hold them in their accounts and withdraw as needed until August 29, 2023.
In preparation for this trading halt, Bitstamp urges users to promptly execute any desired buy or sell orders involving the affected tokens before the specified date.
Binance.US, the American arm of the world's largest cryptocurrency exchange, and Coinbase, the leading crypto
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