Cryptocurrency exchange Bitstamp announced that it will cease providing ETH staking services to US users as of September 25. Bitstamp stated that the reason for making this decision was the increased regulatory pressure of the US Securities and Exchange Commission (SEC) in relation to participants in the cryptocurrency industry.
“Given the current regulatory dynamics in the United States, we have decided to discontinue staking services for customers residing in the United States. Customers will continue to receive staking rewards until September 25, 2023. After this, the rewards, along with the deposit amount, will be transferred to the balances of the main accounts of Bitstamp users,” said Bobby Zagotta, CEO of the US exchange.
Bitstamp noted that traditionally the duration of this procedure is several days, but it can be extended depending on network circumstances.
Earlier, the cryptocurrency exchange announced the decision to suspend trading of seven digital assets - AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL - for clients located in the United States from August 29.
