HomeÚltimas NoticiasNegocioBitstamp halts ETH staking in the United States

Bitstamp halts ETH staking in the United States


Crypto exchange Bitstamp will discontinue staking services for customers based in the United States. In a message shared with Cointelegraph, the exchange announced the ending of Ether (ETH) staking as of Sept. 25.

“Customers will continue earning staking rewards up until September 25, 2023, and after that, all staked assets will be unstaked. Rewards, along with the principal, will be credited to users’ main Bitstamp account balances,” said Bobby Zagotta, U.S. CEO and global chief commercial officer at Bitstamp, warning that it could take a few days for users’ balances to reflect the changes.

According to Bitstamp’s website, it charges a 15% commission on all staking rewards. The monthly reward rate for staking ETH on the exchange is 4.50%; by comparison, the monthly reward for staking Algorand (ALGO) is 1.60%. With the move, the U.S. joins other countries where Bitstamp staking services aren’t available, including Canada, Japan, Singapore and the United Kingdom.

The decision appears to be related to recent legal developments in the United States. In early August, Bitstamp announced at least seven altcoins would no longer be offered in the country. They were Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near (NEAR), The Sandbox (SAND) and Solana (SOL). While the company didn’t specify why it suspended trading, all seven tokens were deemed unregistered securities by the U.S. Securities and Exchange Commission (SEC) in June as part of its lawsuits against crypto exchanges Binance and Coinbase.

Ether is the native cryptocurrency of the Ethereum blockchain and the second largest by market cap behind Bitcoin (BTC). A central issue surrounding the ongoing regulatory environment in the U.S. relates to whether ETH could be classified as a commodity or a security. The Commodity Futures Trading Commission has repeatedly called Ether a commodity, while SEC Chair Gary Gensler said at a hearing in April that Bitcoin was a commodity but would not specify whether ETH should be deemed a security.

Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?


Reciba noticias de Vimilin desde Google news


Please enter your comment!
Please enter your name here


BTC price shows ‘textbook’ Wyckoff moves as Bitcoin bulls defend $25K

Bitcoin (BTC) consolidated higher on Sept. 15 as analysis described recent BTC price behavior as “textbook.”Collect this article as an NFT to preserve this moment...

Magic Eden integrates Solana’s compressed NFTs into marketplace

Nonfungible token (NFT) marketplace Magic Eden has announced that it will support Solana’s compressed NFTs (cNFTs) to provide a cost-efficient and scalable alternative to owning...

House Democrats back Biden candidacy as calls for president to drop out intensify on the left

FIRST ON FOX: House Democrats appear to be behind another Biden-Harris ticket, even as President Biden is being discouraged against running by some on the...

3 Standout Stocks to Buy as Worse-Than-Expected CPI Numbers Revive Inflation Fears

The August CPI report showed headline annual inflation rising 3.7% compared to the 3.2% reading seen in July and a 3.0% increase in June. As inflation...

Más popular