Binance.US will delist the AMP token “out of an abundance of caution” after the U.S. Securities and Exchange Commission alleged AMP was a security last month in its insider-trading case against a former employee of the Coinbase crypto exchange and two of his associates, according to a Binance blog post on Monday. The move will be effective on Aug. 15.
- In its suit, the SEC named nine digital assets it claims are securities. Of those nine tokens, only AMP is listed on the Binance.US platform, according to Binance.US.
- Binance.US said the trading of AMP may resume in the future on its platform, but noted that “we are taking this step now until more clarity exists around the classification of AMP.”
- The price of AMP was down 2.4% over the past 24 hours, according to CoinDesk data.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.