The vision, obtained by UK newspaper The Sun, shows a man — allegedly Stokes, wearing a green shirt and white shoes — throwing punches at two men on a deserted street.
After initially appearing to act in self-defence against a man brandishing a bottle, the man in the green shirt quickly becomes the aggressor before finishing the fight with a savage right hook.
The ECB met on Thursday and activated disciplinary procedures against Stokes, who is said to have apologised for his actions, is devastated and aware of the magnitude of what has happened.
The BBC said Stokes, who was released under investigation having been arrested on suspicion of causing actual bodily harm, was “fragile and devastated” after the publication of the video.
The ECB said that Stokes and England teammate Alex Hales are suspended until further notice.