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Cryptocurrency exchange Bitstamp announced that it will suspend its services in Canada next January.
The exchange’s US CEO and Global Trade Director, Bobby Zagotta,
“After informing our valued customers in March, Bitstamp will officially cease its services to its customers in Canada from January 8, 2024.” He said. “As a result, all accounts in Canada will be closed, and customers will no longer be able to access their accounts.”
Zagotta told his customers to withdraw their money by January.
Zagotta added, “This is not a decision we take lightly. Also, we thank our Canadian customers for their loyalty over the years. We hope to serve Canada again in the future.”
In addition, the exchange also halted some of its services in the US due to the SEC’s regulatory pressures on certain cryptocurrencies. It also ended the trading of MATIC, SOL, NEAR, AXS, CHZ, MANA, and SAND on August 9 and ETH trading on August 23.
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Bitstamp Suspends ETH Staking Service in the US!
Bitstamp will terminate its Ethereum staking program for all US users from next month. Also, the exchange’s US CEO, Bobby Zagotta, in his statement,
“From September 25, 2023, Bitstamp will no longer offer staking services in the US,” he said. “Consequently, US customers will stop receiving staking rewards. Besides, all other Bitstamp services will remain unaffected.”
This move came amid US regulation targeted by the SEC. The SEC stated that such services fall under the umbrella of investment contracts and therefore need to be registered as securities.
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