Bitstamp to Discontinue ETH Staking in US from September
Crypto staking refers to the practice of earning rewards by committing tokens to support the operation of a blockchain. Ethereum started offering ETH staking in December 2020, much before the blockchain transitioned to a Proof-of-Stake (PoS) network. However, the SEC considers certain products related to staking as unregistered securities. advertisement Bobby Zagotta, CEO of Bitstamp US, mentioned that customers will continue to receive staking rewards until September 25, 2023. After this date, all staked assets will be unstaked, and both rewards and principal will be added to users’ primary Bitstamp account balances. The usual duration for this procedure is a few days, though it might be extended based on network circumstances. The company is closing its staking Features because of the regulations in the US. Zagotta said that Bitstamp is a highly regulated and reliable exchange. They have a system in place to regularly check the services they offer and ...