Crypto Updates

Bitstamp Pulls the Plug on ETH Staking for US Clients

What is Staking? All You Need to know About Staking

Amid the changing landscape of cryptocurrency regulations
in the US, Bitstamp, one of the industry’s oldest digital asset exchanges, is
making a significant move by discontinuing its Ethereum (ETH) staking services
for customers based in the US. This decision comes as a result of heightened
regulatory dynamics in the country, particularly concerning crypto-staking

Starting September 25,
2023, the exchange said that US-based users will no longer have access to
staking their ETH on the platform. Before the deadline, users can continue to
earn staking rewards, with these rewards and principal amounts eventually being
credited to users’ primary Bitstamp account balances. However, these changes
might take a few days to fully reflect in users’ accounts.

The regulatory pressure in the US has led Bitstamp to halt its staking services in the country, following similar moves
by other crypto assets exchanges. As the US CEO and the global Chief Commercial
Officer at Bitstamp, Bobby Zagotta, states, the “current regulatory
dynamics” in the US have driven this strategic decision.

Bitstamp’s move to halt
ETH staking

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