Bitstamp will not support Bitcoin Cash

Bitstamp cofounder

Bitstamp has taken a stance against Bitcoin Cash (BCC) stating that it will not support BCC and that it will decide at their own discretion what it will do with the BCC that will be generated because of the hard fork.

The fourth biggest bitcoin exchange by volume said that they are not in a position to support Bitcoin Cash and that they will not be liable for any BCC sent to Bitstamp.

Bitcoin Cash will come into existence as a result of the chain-split hard fork that splits bitcoin into two coins, Bitcoin Core (BTC) and Bitcoin Cash (BCC). The hard fork is finally happening after years of debate on bitcoin’s scalability, with the two very different visions seemingly irreconcilable, so they are apparently going their own way.

Bitcoin Cash has found supporters as well as opposers. Bithumb, potentially Kraken, ViaBTC, OKex, and many others have come out in strong support of BCC. Those who are opposing BCC include the likes of Coinbase who have stated that they will not give Bitcoin Cash to their customers. GDAX is also not going to support BCC.

Bitstamp is joining the opposers bandwagon. While supporting BCC or not is definitely at sole discretion of the exchange and wallet providers, there are things that could make them liable like the contracts they have signed with banking entities.

Bitstamp just inked an agreement with a Swizz bank to allow the bank’s customers to trade bitcoins. Considering that a bank is regulated by authorities, not providing customers with ways to get their BCC assets could make the bank liable and this indirectly means that Bitstamp could be liable as well.



Please enter your comment!
Please enter your name here