2 years ago
Binance.US will delist Flexa’s AMP token connected Aug. 15 aft the U.S. Securities and Exchange Commission deemed the token a security.
The speech said it is carrying retired this enactment “out of an abundance of caution.”
We run successful a rapidly evolving industry, and our listing and delisting processes are designed to beryllium responsive to marketplace and regulatory developments.
The speech added that the token would stay delisted until “more clarity exists astir the classification.”
With the delisting, AMP deposits connected Binance.US volition close, and the AMP/USD trading brace volition besides beryllium removed. In addition, it intends to region each commercialized orders aft trading ceases for the pair.
SEC urges crypto exchanges to run according to securities law
SEC Chairman Gary Gensler successful a video shared connected Twitter urged crypto exchanges to run according to securities law, arsenic they can’t beryllium treated otherwise due to the fact that of their technology.
We person rules successful our superior markets to safeguard marketplace integrity & support against fraud & manipulation. If a institution builds a crypto marketplace that protects investors & meets the modular of our marketplace regulations, radical volition much apt person greater assurance successful that market. pic.twitter.com/ZxdBfvmqXP
— Gary Gensler (@GaryGensler) July 28, 2022
Gensler besides said the committee was moving towards delineating crypto tokens that mightiness beryllium securities.
The committee had precocious classified 7 crypto assets connected Coinbase arsenic unregistered securities. AMP is 1 of the tokens and the lone 1 listed connected Binance.US.
Coinbase has denied these accusations, categorically stating that it does not database securities.
However, the SEC is investigating Coinbase for letting US residents commercialized assets that it considers unregistered securities.
Meanwhile, AMP’s worth has dropped by 9.6% successful the past 24 hours and present trades astatine $0.0824, according to CryptoSlate data.
The station Binance.US to delist Flexa’s AMP aft SEC information classification appeared archetypal connected CryptoSlate.
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