Bitstamp, a prominent cryptocurrency exchange, has announced that it will suspend trading for seven cryptocurrencies – Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), NEAR Protocol (NEAR), The Sandbox (SAND) , and Solana (SOL) – for customers residing in the United States. This suspension is set to take effect on August 29th, and the exchange attributed the decision to "recent developments."
Although Bitstamp did not explicitly state the reasons behind the suspension, these seven coins have faced regulatory scrutiny in the United States. The US Securities and Exchange Commission (SEC) has classified them as unregistered securities in its complaint against cryptocurrency exchanges Binance and Coinbase.
Bitstamp has requested its US-based users to carry out any necessary buy or sell orders involving these affected assets by the specified deadline. After August 29th, all trading activity related to these coins on the Bitstamp platform will be permanently disabled. H owe, customers will still have the ability to hold these tokens in their accounts and withdraw them as needed.
It's Important to Note that the sec's allegrations against theSe tokens have not Yet Been Proven in a Court of Law. Despite this, Some Fintech Companies, Like Revo LUT, have chosen to delist the tokens for US Residents in Response to the Secness Lawsuit Against Binance and Binance and Coinbase.
Bitstamp, founded in 2011 and headquartered in Luxembourg, is renowned as the oldest cryptocurrency exchange globally. The platform offers trading for a diverse range of around 30 coins and tokens. Over the past 24 hours, Bitstamp has facilitated approximately $164 million worth of digital currency trading.
