Binance.US is Exclusion Flexa’s AMP token on August 15 after the U.S. Securities and Exchange Commission deems the token a security.
The exchange said it was carrying out this action “out of caution.”
We operate in a rapidly evolving industry and our listing and delisting processes are designed to keep pace with market and regulatory developments.
The exchange added that the token will remain delisted until “the classification becomes clearer.”
The delisting will also close AMP deposits on Binance.US and remove the AMP/USD trading pair. In addition, we plan to remove all trading orders after the pair stops trading.
SEC Asks Cryptocurrency Exchanges To Operate Under Securities Laws
In a video shared on Twitter, SEC Chairman Gary Gensler urged crypto exchanges to operate under securities laws as they cannot be treated differently because of their technology.
Capital markets have rules to protect market integrity and protect against fraud and manipulation. If companies protect their investors and build a crypto market that meets the standards of market regulation, people are more likely to have greater trust in that market. pic.twitter.com/ZxdBfvmqXP
— Gary Gensler (@GaryGensler) July 28, 2022
Gensler also said the commission is working on delineating crypto tokens that could be securities.
The commission recently classified seven of Coinbase’s crypto assets as unregistered securities. AMP is one of the tokens and the only one listed on Binance.US.
Coinbase denies these accusations and categorically states that it does not list any securities.
However, the SEC is investigating Coinbase to allow U.S. residents to trade assets it considers to be unregistered securities.
Meanwhile, data from CryptoSlate shows that AMP has fallen 9.6% in value over the past 24 hours and is currently trading at $0.0824.
