Bitstamp to halt US trading for MATIC, SOL, CHZ and five other altcoins

Bitstamp to halt US trading for MATIC, SOL, CHZ and five other altcoins
фото показано с : invezz.com

2023-8-9 14:03

Crypto exchange Bitstamp has announced that it will soon halt trading for several altcoins for users in the United States, citing the prevailing regulatory environment.

US regulatory environment

According to an update Bitstamp published on August 8, US customers will not have access to Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near Protocol (NEAR), The Sandbox (SAND) and Solana (SOL) trading starting later this month. The Bitstamp notice read in part:

“Starting from August 29, 2023, we are suspending trading for the following cryptocurrencies in the US: AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL. This means that as of August 29, 2023, new orders involving these assets will be disabled, and all existing orders across all these trading pairs will be cancelled.”

Bitstamp’s move to suspend trading for the named cryptocurrencies follows the recent regulatory action against Binance and Coinbase by the US Securities and Exchange Commission (SEC). The agency listed multiple tokens as unregistered securities in its lawsuits against the leading crypto platforms.

A number of platforms went on to delist several of the identified “securities”, with Robinhood delisting Solana, Cardano and Polygon among others in June. UK-based social investing giant eToro also halted trading for US users.

While Bitstamp will “permanently” disable trading for the highlighted cryptocurrencies for US customers, users will still have access to assets in their accounts and to withdraw these at any given time.  

Bitstamp USA, the exchange’s US unit, holds both the Virtual Currency Business Activity and Money Transmitter licenses issued by the New York State Department of Financial Services (NYDFS).

The post Bitstamp to halt US trading for MATIC, SOL, CHZ and five other altcoins appeared first on Invezz.

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