Cryptocurrency trade Bitstamp will suspend trading of Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Close to (NEAR), Sandbox (SAND) and Solana (SOL) for clients residing in america starting Aug. 29.
In accordance to the Aug. 8 announcement, trading of the seven aforementioned cryptocurrencies will quickly develop into unavailable for trading for U.S. clients due to “latest developments.” Whereas the agency didn’t specify the rationale for their suspension, all seven tokens are alleged by the U.S. Securities and Change Fee (SEC) to be unregistered securities in its complaints towards cryptocurrency exchanges Binance and Coinbase. Bitstamp wrote:
“We kindly request our users to promptly execute any desired purchase or promote orders involving the affected property earlier than August 29, 2023. After this deadline, trading actions associated to AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL might be completely disabled on the Bitstamp platform.”
Though trading will quickly be halted, Bitstamp says users can nonetheless maintain the seven tokens of their accounts and withdraw them at any time. The SEC’s allegations towards the tokens haven’t but been confirmed in a courtroom of regulation. Nevertheless, different fintech companies, comparable to Revolut, have voluntarily delisted them for U.S. residents amid the SEC litigation towards Binance and Coinbase. The Sandbox has additionally begun mandating Know Your Customer verification for SAND staking after the occasion. The SEC at present alleges that 68 cryptocurrencies are securities.
Based in 2011 and now headquartered in Luxembourg, Bitstamp is at present the world’s oldest cryptocurrency trade. The platform presents round 30 cash and tokens for trading. Roughly $164 million price of digital currencies had been traded on Bitstamp up to now 24 hours.
Replace for our US users
Beginning August 29: AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL trading might be halted after evaluating latest market developments.
Execute any open trades. Holding and withdrawing tokens afterwards might be unaffected.
Extra data:…
— Bitstamp (@Bitstamp) August 8, 2023
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