Luxembourg-based crypto trade Bitstamp will droop buying and selling of seven main altcoins for US prospects beginning Aug. 29, 2023.
The affected cryptocurrencies embody Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Close to (NEAR), Sandbox (SAND), and Solana (SOL).
After Aug. 29, all buying and selling with these altcoins will likely be halted.
Bitstamp clarified that whereas buying and selling for these tokens will likely be briefly halted, customers can nonetheless retain these property of their accounts and withdraw them as desired.
The choice follows the SEC’s current allegations that these seven tokens are unregistered securities, as evidenced by complaints filed in opposition to main cryptocurrency exchanges reminiscent of Binance and Coinbase.
A number of different fintech companies, reminiscent of Revolut, have additionally voluntarily delisted these tokens for US residents in mild of the SEC’s litigation. Sandbox, the agency behind SAND, has begun mandating Know Your Buyer (KYC) verification for staking its cryptocurrency following these occasions.
In complete, the SEC at present alleges that 68 cryptocurrencies are securities.
Bitstamp, based in 2011, at present affords round 30 cash and tokens for buying and selling, with roughly $164 million price of digital currencies traded on its platform up to now 24 hours.
This transfer comes because the trade actively pursues world enlargement plans and seeks new funds to scale its operations.
In response to studies, Bitstamp intends to make use of the funds for launching derivatives buying and selling in Europe subsequent yr, increasing into Asian markets, and enhancing its operations in the UK.
