Bitstamp Ceases Trading of Polygon, Solana, and Other Tokens in the United States

Tokens Affected by the Trading Halt

  • Polygon (MATIC)
  • Solana (SOL)
  • Near Protocol (NEAR)
  • Axie Infinity (AXS)
  • Chiliz (CHZ)
  • Decentraland (MANA)
  • The Sandbox (SAND)

Bitstamp has announced that trading of these tokens will be suspended starting from August 29th. However, users will retain the ability to maintain ownership of these assets and withdraw them as desired.

Although Bitstamp did not explicitly state the reason for delisting these tokens, the association of these tokens with unregistered securities, as stated in lawsuits by the SEC against various firms including major exchanges like Coinbase and Binance, has cast uncertainty over their trading. In response to this situation, Bitstamp conveyed, “At Bitstamp, we have a comprehensive framework in place to continuously evaluate the cryptocurrencies we provide, taking into account the dynamic regulatory environment.”

Industry-wide Impact

Bitstamp is not the only trading platform that has opted to halt trading for certain tokens in the U.S. Similar decisions have been made by other platforms such as Revolut, eToro, and Robinhood. In the case of Revolut, the company has announced its intention to completely shut down its U.S.-based crypto platform by October, citing concerns related to regulatory uncertainties.

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