The end of crypto staking for US customers on Bitstamp
The popular cryptocurrency exchange, Bitstamp, has announced that it will no longer allow US customers to stake cryptocurrencies starting from September 25. This decision is a result of the “current regulatory dynamics” in the US, according to CEO Bobby Zagotta. Bitstamp joins other digital asset organizations in halting certain offerings to American clients due to the hostile attitude of the US Securities and Exchange Commission (SEC).
Main key points:
- Staking services will no longer be available on Bitstamp for US customers as of September 25.
- The SEC has been cracking down on unregistered crypto-staking programs, pressing charges against Kraken and accusing Binance and Coinbase of violating laws.
- Bitstamp will bar American clients from dealing with certain altcoins, including AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL.
- Other companies, such as GameStop and Revolut, have also ceased crypto services for US users due to regulatory uncertainties.
Hot Take
The regulatory actions of the US SEC have created a chaotic environment for the crypto sector. As a result, leading companies like Bitstamp are being forced to restrict services for US customers. This not only limits the options available to US crypto enthusiasts but also raises questions about the future of cryptocurrency regulation in the country.
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