Binance.US will delist Flexa’s AMP token on Aug. 15 after the U.S. Securities and Exchange Commission deemed the token a security.

The alternate stated it’s finishing up this motion “out of an abundance of caution.”

We function in a quickly evolving trade, and our itemizing and delisting processes are designed to be responsive to market and regulatory developments.

The alternate added that the token would stay delisted till “more clarity exists around the classification.”

With the delisting, AMP deposits on Binance.US will shut, and the AMP/USD buying and selling pair can even be eliminated. In addition, it intends to take away all commerce orders after buying and selling ceases for the pair.

SEC urges crypto exchanges to function in accordance to securities legislation

SEC Chairman Gary Gensler in a video shared on Twitter urged crypto exchanges to function in accordance to securities legislation, as they will’t be handled in another way due to their know-how.

Gensler additionally stated the fee was working in the direction of delineating crypto tokens that is perhaps securities.

The fee had just lately categorized seven crypto property on Coinbase as unregistered securities. AMP is likely one of the tokens and the one one listed on Binance.US.

Coinbase has denied these accusations, categorically stating that it doesn’t checklist securities.

However, the SEC is investigating Coinbase for letting US residents commerce property that it considers unregistered securities.

Meanwhile, AMP’s worth has dropped by 9.6% within the final 24 hours and now trades at $0.0824, in accordance to CryptoSlate data.

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