Bitstamp to halt U.S. trading of seven tokens identified as securities by SEC in Coinbase, Binance cases

Bitstamp said connected Aug. 8 that it would halt U.S. trading for respective cryptocurrencies declared securities successful caller cases against Binance and Coinbase.

Specifically, the institution said it would soon artifact U.S. users from trading Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near Protocol (NEAR), The Sandbox (SAND), and Solana (SOL). According to the company’s latest announcement, those delistings permission Bitstamp with 30 listed cryptocurrencies.

Bitstamp urged U.S. customers to execute trades involving the supra tokens by August 29. It said U.S. trading would beryllium “permanently disabled” aft that deadline but said that U.S. users could retreat and clasp the supra tokens aft that date.

The institution decided to delist the affected tokens successful airy of “recent developments” and continuously examines the regulatory environment. Though Bitstamp did not explicitly place those developments, each affected cryptocurrencies are assets that the U.S. Securities and Exchange Commission (SEC) identified arsenic securities successful cases against Coinbase and Binance.

Incidentally, Bitstamp volition refrain from delisting definite assets named successful those cases — Cardano (ADA), Nexo (NEXO), and Algorand (ALGO) — for unclear reasons.

Other platforms person delisted akin tokens

Certain different cryptocurrency platforms person besides delisted definite assets named successful the supra securities cases. Revolut, Bakkt, and Robinhood person each delisted Cardano (ADA), Polygon (MATIC), and Solana (SOL) successful caller months.

The absorption connected those 3 cryptocurrencies appears to beryllium due to the fact that they are among the largest assets the SEC targets and are, therefore, broadly supported.

Each cryptocurrency task has rejected the SEC’s claims straight oregon indirectly. Cardano genitor institution IOHK has denied its information status, portion the Solana Foundation has said it “disagrees” with the SEC’s statements. Polygon Labs has stated its activities were focused extracurricular of the U.S., implicitly beyond the scope of the SEC.

So far, each actions taken astir the affected tokens are precautionary. It remains to beryllium seen whether the SEC volition people the tokens oregon further platforms successful the future.

The station Bitstamp to halt U.S. trading of 7 tokens identified arsenic securities by SEC successful Coinbase, Binance cases appeared archetypal connected CryptoSlate.