Cryptocurrency exchange Bitstamp announced that it will not allow US customers to stake cryptocurrencies as of September 25. CEO Bobby Zagotta stated that the decision was made due to "current regulatory dynamics" in the world's largest economy. 🚫🇺🇸

Due to the hostile stance of the US Securities and Exchange Commission (SEC), Bitstamp will be the latest digital asset company to discontinue certain services to US customers. Staking services (committing tokens to help verify transactions on the blockchain network and then earn rewards) will not be available from the end of September.

The SEC declared war on such offerings by filing a lawsuit against cryptocurrency exchange Kraken in February of this year. The agency accused the company of offering an unregistered crypto-staking program and demanded its termination. Kraken settled and agreed to pay $30 million in ill-gotten gains, predetermined interest and civil penalties.

The securities regulator did not stop and attacked two other leaders in the industry, Binance and Coinbase. He alleged that both exchanges were offering trading services with unregistered securities such as BNB, BUSD, SOL, MATIC, ADA, and more, violating several laws.

This regulatory uncertainty has caused Bitstamp to block American customers on several SEC-listed altcoins. The assets in question include AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL, and the changes will go into effect on August 29.

Regulatory turmoil in the crypto industry in the US has caused some companies to stop serving American customers. One of these companies, US gaming equipment retailer GameStop, announced that it will terminate its cryptocurrency wallet program as of the beginning of November.

Fintech giant Revolut also joined this club. Starting September 2, it will not allow US customers to purchase digital assets, while selling and holding will be available until October 3.