Bitstamp crypto exchange will remove some flagship crypto assets that are unregistered security tokens under the purview of the US securities regulatory agency.
Bitstamp is a very old and popular European cryptocurrency exchange, founded in 2011. It is the world’s longest running cryptocurrency exchange and is known for its unique strategy to stay compliant with the regulators in the corresponding jurisdictions. At the moment, Bitstamp is the 7th largest crypto exchange in the world.
On August 8, 2023, Bitstamp Exchange issued a new notice for the US customers and confirmed that it will remove AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL from the exchange.
This new decision will not affect US crypto customers until August 29. In the meantime, Bitstamp customers are requested to cancel their orders in these said crypto-assets.
The Bitstamp team made this decision on behalf of the SEC lawsuit against BinanceUS & Coinbase, in which the SEC body named all these crypto assets as unregistered security tokens with facts.
Earlier this month, Robinhood and BinanceUS delisted all similar Crypto-assets named by the SEC in the lawsuits. On the other hand, Coinbase Exchange is not in the mood to remove these crypto assets.
Ripple vs SEC
The US Securities Exchange Commission (SEC) is the main US financial regulator and this regulatory body is trying to forcibly regulate the crypto sector under traditional securities laws.
In December 2020, the SEC bureau sued San Francisco-based Ripple (XRP) to prove the nature of the XRP token as an unregistered security, but failed.
Just a day ago, the SEC body sent a letter to the court judge to restart the case against Ripple, despite the judge’s statement that the XRP coin is a non-security token, in the ruling of the XRP lawsuit in July.
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