Bitstamp no longer offering Ethereum staking

Everyone knows that if you stake 32 or more Ethereum, you get staking rewards. Some cryptocurrency exchanges also allow you to do that. Due to new US laws, Bitstamp exchange has announced that it will stop giving Ethereum staking rewards to its users starting September 25th 2023. 

bitstamp ethereum staking

In fact, Bitstamp will be unsticking your Ethereum automatically and crediting your Ethereum to your master balance. Good thing is not many users are using Bitstamp these days. There are much better ways of staking Ethereum without running a node and that includes Lido Finance, Rocket Pool and Stakewise. 

US regulatory environment is pushing more and more cryptocurrency projects to stop giving staking rewards as they would otherwise be classified as securities. This could potentially result in delisting of a project. 

In other words, if you do not live in US, you would still be able to enjoy Ethereum staking services and earn additional ETH as reward. After September 25th 2023, you will not be able to stake additional assets and this includes Ethereum. 

Cryptocurrency exchanges that do not comply with the recent changes introduced by US regulatory would be penalized. For instance, Kraken exchange was asked to settle with SEC over its staking rewards for various cryptocurrencies.