Giovanni Russo Bitstamp will soon cease the trading of seven popular cryptocurrencies including AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL for users based in the United States. The halt will commence on August 29, 2023, during which all existing orders for these assets will be canceled for U.S. customers, and trading will be permanently suspended on the platform for these particular crypto assets.
The suspension of trading for these seven cryptocurrencies by Bitstamp is a result of ongoing evaluations of its offerings in light of the fluctuating regulatory landscape in the United States. From the given date, new orders for these specific cryptocurrencies will be barred, and existing ones will be annulled, as per the exchange’s statement. U.S. customers, however, will retain the ability to hold and withdraw these assets from their Bitstamp accounts whenever they choose.
Bitstamp has encouraged its users to carry out any desired buy or sell transactions involving these assets before the August 29 cut-off to ensure a seamless process during the trading cessation. After this date, any trading involving AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL will be indefinitely terminated for U.S. users on Bitstamp.
Though these assets will no longer be available for U.S. customers, Bitstamp has stated that it will persist in offering up to 30 other cryptocurrencies for trading on its platform. The exchange has affirmed its commitment to maintain a broad spectrum of trading options, despite the restrictions for American clients.
Bitstamp’s move is not an isolated incident, as other significant cryptocurrency platforms such as Etoro, Robinhood, and Bakkt have also curtailed support for certain cryptocurrencies earlier this year. The stringent regulatory atmosphere in the U.S. has compelled many exchanges to narrow down their offerings to ensure compliance with American legalities and steer clear of potential legal complications.
Feel free to share your perspectives and opinions about Bitstamp’s decision to delist these seven crypto assets in the comments below.
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Frequently Asked Questions (FAQs) about fokus keyword: Bitstamp
When will Bitstamp suspend trading for the seven cryptocurrencies for U.S. customers?
Bitstamp will suspend trading for AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL for U.S. customers starting August 29, 2023.
What cryptocurrencies are affected by Bitstamp’s decision?
The cryptocurrencies affected by Bitstamp’s decision are AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL.
Can U.S. customers still hold and withdraw these assets from their Bitstamp accounts?
Yes, U.S. customers can still hold the affected cryptocurrencies in their Bitstamp accounts and withdraw them at any time.
Why is Bitstamp delisting these cryptocurrencies for U.S. customers?
Bitstamp is delisting these cryptocurrencies as part of a continuous evaluation of its crypto offerings, considering the changing regulatory environment in the United States.
Will Bitstamp continue to offer other cryptocurrencies for trading?
Yes, despite delisting these assets for U.S. customers, Bitstamp will continue offering up to 30 available cryptocurrencies to trade on its platform.
Has any other major cryptocurrency platform delisted assets due to U.S. regulations?
Yes, earlier this year, trading platforms like Etoro, Robinhood, and Bakkt also removed support for certain cryptocurrencies due to the regulatory environment in the U.S.
More about fokus keyword: Bitstamp
- Bitstamp Official Announcement
- U.S. Cryptocurrency Regulations
- Etoro’s Cryptocurrency Trading
- Robinhood’s Cryptocurrency Trading
- Bakkt’s Cryptocurrency Platform
6 comments
wow, cant believe they are delisting SOL too. gotta move my assets asap before the 29th!1!
Regulation strikes again, huh. Where’s the freedom in crypto trading these days. Bitstamp’s just the latest victim
Does this mean other exchanges will follow? not a good sign for crypto in the US.
Their still letting us hold and withdraw right? im confused about this part. need more clarity.
eToro and Robinhood did it, now Bitstamp. whos next? The future of trading in the US looks bleak 🙁
30 other cryptos to trade, so its not that bad. But still, whys the goverment got to interfer all the time???