According to Bloomberg, Luxembourg-based Bitstamp is backtracking on its plan to introduce a €10 inactivity fee for its users, according to a statement from the firm's CEO JB Graftieaux.
The community reaction to the charges prompted a rethink of the initiative, according to the CEO's statement.
We have heard from customers about the inactivity fee. We have taken everyone's concerns on board and decided to cancel. Listening to our customers is part of our service DNA. Our customers can use and enjoy all our services regardless of balance of accounts and time passed from your previous activities. Bitstamp said the fees were to save cost. The decision was against the tenets of the criptocurrency, which attracted the ire of the community.
According to CoinMarketCap data, Bitstamp trading volume has declined by over 20% over the last 24 hours to around $165 million.