Trading will soon be halted for several popular cryptocurrencies on the Bitstamp exchange for users in the United States. Starting August 29, 2023, the exchange will suspend trading for AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for U.S. customers, canceling all existing orders for those assets. After this deadline, U.S.-based Bitstamp users will no longer be able to trade these crypto assets on the platform.
Bitstamp Suspends Trading of 7 Cryptocurrencies for U.S. Customers Amid Regulatory Climate
Bitstamp says the decision comes as part of a continuous evaluation of its crypto offerings, taking into account the changing regulatory environment in the United States. New orders for the seven cryptocurrencies will be disabled on August 29, and existing orders will be canceled, according to the exchange. However, U.S. customers will still be able to hold the assets in their Bitstamp accounts and withdraw them at any time.
The exchange recommended users execute any desired buy or sell orders for the affected assets before the August 29 deadline to ensure a smooth transition during the trading halt. After that date, trading related to AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL will be permanently disabled for U.S. customers on Bitstamp.
Despite delisting those assets for U.S. customers, Bitstamp noted it will continue offering up to 30 available cryptocurrencies to trade on its platform. The exchange said it remains committed to providing a comprehensive range of trading options even with the halt for U.S. users.
Bitstamp is not the first major cryptocurrency platform to delist assets due to the regulatory environment in the United States. Earlier this year, trading platforms like Etoro, Robinhood, and Bakkt also removed support for certain cryptocurrencies. The harsh regulatory climate has led many exchanges to limit their offerings in order to comply with American rules and avoid potential legal issues.
What do you think about Bitstamp delisting seven different crypto assets? Share your thoughts and opinions about this subject in the comments section below.
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