European cryptocurrency exchange Bitstamp has officially reversed its controversial decision to implement a €10 monthly inactivity fee, responding to significant pushback from the digital currency community.
According to recent statements from Bitstamp's CEO JB Graftieaux, the overwhelming negative feedback from users prompted the exchange to reconsider its approach to account management fees.
'The voice of our community has been instrumental in this decision,' Graftieaux emphasized in an official communication. 'We value our users' perspectives and believe this policy change better aligns with our commitment to serving the cryptocurrency ecosystem.'
An official statement published on Bitstamp's platform explains the exchange's revised position on dormant account charges, highlighting their renewed focus on user experience rather than cost-cutting measures.
Initially, Bitstamp had justified the proposed fees as necessary operational cost reductions, a position that sparked considerable debate within the cryptocurrency community about the direction of centralized exchange policies.
Market analysts have observed the impact of this policy reversal, noting that Bitstamp's trading volume experienced a temporary dip of over 20% within 24 hours, falling to approximately $165 million before showing signs of recovery, according to CoinMarketCap data.