🧵 1. Crypto exchange Bitstamp will end Ether (ETH) staking in the U.S. from Sept. 25, 2023. Staked assets will be unstaked and rewards credited to users' accounts. #crypto
🧵 1. Crypto exchange Bitstamp will end Ether (ETH) staking in the U.S. from Sept. 25, 2023. Staked assets will be unstaked and rewards credited to users' accounts. #crypto
🧵 2. Bitstamp charges 15% commission on staking rewards. Monthly reward rate for staking ETH is 4.50%, while staking Algorand (ALGO) offers 1.60%.
🧵 3. Bitstamp's decision affects U.S. customers and other countries including Canada, Japan, Singapore, and the United Kingdom.
🧵 4. Recent legal developments in the U.S. likely influenced Bitstamp's decision to discontinue services for altcoins and now ETH staking.
🧵 5. Ongoing regulatory uncertainty surrounds the classification of ETH as a commodity or security, with conflicting statements by regulators. SEC Chair Gensler's final say questioned.
🧵 Read more at: https://cointelegraph.com/news/bitstamp-halts-ether-eth-staking-united-states