In a move that is sure to have teens across the nation groaning "thanks, Obama," U.S. regulators vowed Thursday to seize all hoverboards that fail to meet new safety standards.

In a letter written to sellers, manufacturers and importers of the two-wheeled stand-up scooters, officials deemed that no hoverboard currently on the streets today can be officially called safe.

The move comes after new safety guidelines were set by an independent testing company this month and following a spike in fires caused when cheaply manufactured lithium batteries explode.

The Consumer Product Safety Commission came to its conclusion after announcing an investigation into the safety of the 13 largest hoverboard brands last month.

Read: Hoverboard Sparks Fire And Burns Down Family's Mansion

"We believe that many of the reported incidents, and the related unreasonable risk of injuries and deaths associated with fires in these products, would be prevented if all such products were manufactured in compliance with the referenced voluntary safety standards," wrote CPSC deputy executive director Robert Howell.

An estimated $2 million in property damage in 24 states has been blamed on fires caused by hoverboards, according to the letter.

Companies that choose not to follow the new rules face hefty fines and seizure of goods.

Read: Teen Carrying Gun Falls Off Hoverboard and Fatally Shoots 13-Year-Old Friend

Since they became the biggest must-have of the holiday season, at least two house fires have been blamed on the exploding toys.

Just last month, a Tennessee family lost everything in a house fire that officials say was caused by an exploding hoverboard.

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The fire erupted at the Belle Meade home of Brian and Megan Fox. No one in the family was hurt, however the multi-million dollar home was a complete loss.

Watch: Mike Tyson Knocked Out After Falling Off His Pink Hoverboard

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