Cryptocurrency exchange Bitstamp announced its new decision due to uncertainties originating from the USA. Exchange for US users Ethereum (ETH) announced that it will end its staking service. Bitstamp will shut down this service, which allows investors to earn passive income, on September 25. Staked tokens will be withdrawn and returned to customer wallets.
Bitstamp stated that it took this step due to regulatory uncertainty in the US. The stock market made the following statement about the situation:
“Taking into account the current regulatory dynamics in the US, we have made the decision to discontinue staking for customers residing in the country.”
Bitstamp has previously had to delist altcoins like Polygon (MATIC) and Solana (SOL). The SEC has previously officially declared the altcoin units in question. “unregistered securities” declared that. There is no definite provision about Ethereum (ETH).
What’s the SEC’s Problem With Crypto?
The SEC’s approach to cryptocurrencies has drawn a strong reaction from the industry. The state institution has not made a clear regulation effort while making arbitrary decisions for years. This uncertainty causes concern among both investors and industry components.
The SEC has recently taken legal action, accusing major crypto exchanges like Binance and Coinbase of violating securities laws.
