Bitstamp halts trading in SOL, MATIC and other tokens in the US

Due to theregulatory uncertainty on the crypto at United StatesLuxembourgish Bitstamp will delister AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL.

American customers of Bitstamp will no longer have access to AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL digital parts from August 29. Worldwide users are not affected.

At Bitstamp, we have put in place a comprehensive framework to continuously evaluate the crypto-currencies we supply, taking into account the dynamic regulatory environment. In light of recent developments, we are making some changes to our offering,” the platform wrote in a statement.

Across the Atlantic, however, traders will still be allowed to keep tokens in their Bitstamp portfolio.

Update for our US users 📢

Starting August 29: AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL trading will be halted after evaluating recent market developments.

Execute any open trades. Holding and withdrawing tokens afterwards will be unaffected.

More info:…

– Bitstamp (@Bitstamp) August 8, 2023

The decision of Bitstamp comes around 2 months after its rivals Coinbase and Binance were sued by the SEC in the US for offering securities. In its complaints, the regulator qualifies a number of cryptocurrencies, including MATIC and other tokens issued by Bitstamp, as such.

Bistamp follows in the footsteps of broker eToro, which also opted to withdraw MATIC, ALGO, MANA and DASH from its US offering last June.

Earlier this week, the Luxembourg-based trading platform announced that it was in the process of raising funds. It plans to launch new products in Europe in 2024.

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