Binance.US Delists AMP Token After SEC’s Warning

Binance.US, the stateside arm of crypto exchange Binance, has delisted amp (AMP) after reports said that the US Securities and Exchange Commission (SEC) is probing Coinbase over tokens that might be considered securities.

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The exchange, commenting on the delisting, noted in a blog post that “in some circumstances, delisting an asset best protects our community from undue risk.” Binance.US added:

“Out of an abundance of caution, we have decided to delist the AMP token from Binance.US, effective August 15, 2022. While trading of AMP may resume at some point in the future on the Binance.US platform, we are taking this step now until more clarity exists around the classification of AMP.”

In the meantime, Ripple, a fintech firm behind the XRP token, says that the SEC is creating “havoc” after it blamed Coinbase for trading unregistered securities without suing the exchange.

US DoJ Charges Coinbase Employee With Insider Trading

The San Francisco-based firm said that the financial watchdog also didn’t even explain why it decided that a subset of tokens on Coinbase were “securities” when others were not.

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