Bitstamp Stops U.S. Trading for Some Cryptocurrencies
Bitstamp and other big crypto firms stop U.S. trading for certain coins after issues with U.S. rules. It's a safety step as they wait for next moves by the SEC.
Bitstamp, a big crypto company, said on Aug. 8 that it will stop U.S. tradingfor some digital coins. This is because these coins were seen as "securities'' in recent cases against two other big crypto companies, Binance and Coinbase.
Bitstamp will stop U.S. users from trading some coins like Axie Infinity, Chiliz, Decentraland, Polygon, Near Protocol, The Sandbox, and Solana. After this, Bitstamp will have 30 coins left. U.S. users should finish their trades with these coins by August 29. After this date, they can't trade but can take out and keep these coins.
Bitstamp decided this because of some new information and is always looking at the rules. The U.S SEC, identified these coins as securities in cases with Coinbase and Binance.
But, Bitstamp will still let people trade some coins like Cardano, Nexo, and Algorand. It's not clear why.
Other Companies Also Stop Some Trades
Other crypto companies like Revolut, Bakkt, and Robinhood also stopped trades for some coins like Cardano, Polygon, and Solana recently.
These coins are big, and the SEC is looking at them closely. But, the companies behind these coins don't agree with the SEC.
Right now, these changes are just to be safe. We don't know what the SEC will do next.
