Bitstamp said that the reason for this decision was the increased regulatory pressure from the US Securities and Exchange Commission (SEC) in relation to participants in the cryptocurrency industry.
“Given the current regulatory dynamics in the US, we have made the decision to discontinue staking services for customers residing in the United States. Customers will continue to receive staking rewards until September 25, 2023. After that, rewards, along with the amount of the deposit, will be transferred to the balances of the main accounts of Bitstamp users,” said Bobby Zagotta, CEO of the US exchange.
Bitstamp noted that this procedure traditionally takes several days, but it can be extended depending on network circumstances.
Earlier, the cryptocurrency exchange announced its decision to suspend trading in seven digital assets – AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL – for customers located in the United States from August 29.
In early August, the British fintech company Revolut announced the suspension of its cryptocurrency services in the United States from September 2, 2023.
Source: Bits
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