Bitstamp, one of the most recognized cryptocurrency exchanges in the market announced that starting on August 29, it will halt trading for several digital currencies. The decision will impact U.S. users due to the most recent market developments that took place in the United States. The information was released by the cryptocurrency exchange in a press release.
Bitstamp Halts Trading For Several Altcoins for US Users
Bitstamp customers in the United States will not have access to trading for several virtual currencies after a decision from the cryptocurrency exchange to halt trading for the following digital assets: AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL.
Update for our US users 📢
Starting August 29: AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL trading will be halted after evaluating recent market developments.
Execute any open trades. Holding and withdrawing tokens afterwards will be unaffected.
— Bitstamp (@Bitstamp) August 8, 2023
The company informed the community that they have in place a comprehensive framework to evaluate on a regular basis the cryptocurrency offering that they provide. Due to the recent developments in the regulatory framework, especially in the United States, they had to make some changes to their crypto offering.
In order for the company to ensure a smooth transition during the trading halt, users are requested to execute buy and sell orders that would affect the digital currencies mentioned above. Trading activities will be halted afterwards.
About it, the company wrote:
“This means that as of August 29, 2023, new orders involving these assets will be disabled, and all existing orders across all these trading pairs will be cancelled. However, we want to emphasize that you will still be able to hold these assets within your Bitstamp account and withdraw them at any time.”
Other cryptocurrency exchanges affected by recent regulatory decisions in the United States included Coinbase and Binance.