Technology

Binance US Delists Cryptocurrency SEC Claimed Is a Security

Binance’s U.S. subsidiary announced that it will shutter trading for Flexa’s AMP token after the U.S. Securities and Exchange Commission (SEC) identified the asset as security. “We operate in a rapidly evolving industry and our listing and delisting processes are designed to be responsive to market and regulatory developments,” Binance US said in a blog post on Monday. The exchange said it is delisting AMP “out of an abundance of caution” effective August 15, adding it is “taking this step now until more clarity exists around the classification” of the token. The move follows last week’s report that the SEC is investigating America’s largest crypto exchange Coinbase for allegedly letting U.S. residents trade digital assets that should have been registered as securities. The Commission reported that Coinbase had listed nine cryptocurrencies that were unregistered securities; “of those nine tokens, only Amp (AMP) is listed on the Binance.US platform,” read Binance’s post.

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