Cryptocurrency exchange Bitstamp has informed its U.S. users that it will discontinue its staking service.
The Ethereum staking service for the exchange's U.S. clients will cease on September 25.
The exchange's decision highlights the growing uncertainty in the U.S. regulatory environment as well as the commitment of cryptocurrency companies to comply with U.S. law, according to the U.Today website.
However, Bitstamp stressed that it will continue to provide the remaining services to its users without any restrictions.
"Clients will continue earning staking rewards up until September 25, 2023, and after that, all staked assets will be unstaked," Bitstamp CEO Bobby Zagotta said, confirming the program's closure.
"The rewards, along with the principal amount, will be credited to the balances of Bitstamp users' main accounts. This process usually takes a few days but may be extended depending on network conditions," he added.
It is worth noting that the exchange previously suspended trading in seven tokens in the United States: Polygon (MATIC), Solana (SOL), Near Protocol (NEAR), Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), and The Sandbox (SAND).
Many analysts believe that Bitstamp is trying to avoid the SEC reprisals that Coinbase, Binance, and Kraken have been subjected to.
See also: Elon Musk supported Dogecoin yet again.
