Bitstamp, a well-established cryptocurrency exchange, will cease trading for seven tokens in the United States that have recently been labeled as unregistered securities by the U.S. Securities and Exchange Commission (SEC). These tokens include Polygon (MATIC), Solana (SOL), Near Protocol (NEAR), Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), and The Sandbox (SAND), media reports said.
Bitstamp announced that trading for these tokens will come to a halt on August 29. However, users will still retain the ability to hold these assets and perform withdrawals as needed. The exact reasons for delisting were not explicitly stated by the exchange.
Nevertheless, the fact that the SEC has deemed these tokens unregistered securities, leading to legal action against various companies including major exchanges like Coinbase and Binance, has created uncertainty around their trading.
Bitstamp clarified that they continually assess the cryptocurrencies they offer, taking into account the ever-changing regulatory landscape. This decision is part of their commitment to ensuring compliance and adhering to regulations.
Bitstamp is not the only platform to make such a move. Other trading platforms like Revolut, eToro, and Robinhood have also suspended trading for certain tokens in the U.S. In the case of Revolut, the company intends to completely shut down its U.S.-based crypto platform in October, citing regulatory ambiguity as the reason for this decision.
