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Pro-XRP Bitstamp Halts Trading for Solana (SOL) and Other Major Tokens

Tue, 08/08/2023 - 12:12
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Gamza Khanzadaev
XRP-friendly exchange shuts down SOL, AXS, MATIC and more major trades in unexpected move
Pro-XRP Bitstamp Halts Trading for Solana (SOL) and Other Major Tokens
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In an unexpected move that has sent ripples through the crypto industry, major exchange Bitstamp has unveiled a sweeping adjustment to its offerings, primarily affecting its U.S.-based customers.

Bitstamp's Epic XRP Announcement Leaves Community Upset

Starting from Aug. 29, Bitstamp will temporarily halt trading activities involving a cluster of high-profile tokens, including Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), NEAR, Sandbox (SAND) and most importantly, Solana (SOL). This maneuver comes in the wake of an ever-evolving regulatory landscape that has prompted the exchange to meticulously assess its portfolio.

This trading suspension translates to a temporary freeze on new orders associated with the aforementioned tokens. Existing orders, spanning an array of trading pairs, will be voided. It is imperative to note, however, that users will still retain the ability to hold these assets within their Bitstamp accounts and effectuate withdrawals at their convenience.

In a bid to streamline this transition, Bitstamp urges its users to expeditiously execute any impending buy or sell orders involving the affected assets before the impending cutoff. Beyond this juncture, the trading curtains will descend permanently on the mentioned digital assets.

Bitstamp and Join XRP Relisting Bandwagon

Though this suspension creates a void, Bitstamp assures its diverse clientele that over 30 alternative cryptocurrencies, including XRP, remain up for trading. The exchange also highlights that its unwavering dedication to adaptability and compliance remains resolute.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.