Bitstamp set to Halt trading of Digital Assets Identified by the SEC as Securities for U.S. Users

The Cryptocurrency exchange Bitstamp is going to halt trading for several digital assets that the U.S. Securities and Exchange Commission (SEC) has classified as securities. As the rules governing digital assets become more stringent, major players in the cryptocurrency industry, such as Coinbase and Binance, find themselves at odds with the law.

Bitstamp said in a statement released yesterday that it is announcing a trading halt for tokens that the SEC has recently categorized as securities. The ongoing legal battles between the SEC and other exchanges, including Coinbase and Binance, are thought to have prompted this decision. 

According to the information on the Exchange’s blog, the cryptocurrencies AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL will be delisted beginning on August 29th, 2023. This implies that from the 29th of August 2023, any orders that are currently open for these assets will be canceled , and no new orders will be accepted after that date. Users can continue to keep their digital assets in their Bitstamp accounts and access them whenever they need.

Users are strongly encouraged to take immediate action in order to fulfill any buy or sell orders for the affected assets prior to the deadline of August 29, 2023. After this date, trading of  AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL will no longer be permitted on the Bitstamp platform.

Read also: Deloitte & Chainalysis Unite to address digital asset compliance challenges

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