Bitstamp to halt trading in Polygon, Solana and other tokens in the US
Quick Take
- Crypto exchange Bitstamp is halting trading of MATIC, SOL, NEAR, AXS, CHZ, MANA and SAND tokens in the U.S. from Aug. 29.
- All these tokens have been called unregistered securities by the U.S. Securities and Exchange Commission.
Bitstamp, the longest-running crypto exchange, is set to halt trading of seven tokens in the United States that were all recently called unregistered securities by the U.S. Securities and Exchange Commission.
The tokens are Polygon (MATIC), Solana (SOL), Near Protocol (NEAR), Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA) and The Sandbox (SAND). Bitstamp said Tuesday that the trading of these tokens will halt on Aug. 29, but users will still be able to hold these assets and withdraw them at any time.
While the exchange did not specify the reason for delisting the tokens, the fact that the tokens have been called unregistered securities by the SEC in lawsuits against various firms, including other top exchanges like Coinbase and Binance, casts a shadow over the trading of the assets.
"At Bitstamp, we have a comprehensive framework in place to continuously evaluate the cryptocurrencies we provide, taking into account the dynamic regulatory environment," the exchange said.
Bitstamp counts as one of several trading platforms which have recently halted trading tokens in the U.S. Others include Revolut, eToro and Robinhood.
In Revolut's case, the company has said it will fully close its U.S.-based crypto platform in October, citing regulatory uncertainty.
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