Binance.US To Halt AMP Token Trading Due To SEC

Binance.US To Halt AMP Token Trading Due To SEC

Binance.US To Halt AMP Token Trading Due To SEC

Starting August 15, 2022, the US division of the Binance exchange will close trading in the Amp (AMP) token. This is stated in the message of the company.

Earlier, the US Department of Justice announced the arrest of former Coinbase product manager Ishan Wahi and two of his accomplices on charges of insider trading fraud.

The US Securities and Exchange Commission (SEC) filed a lawsuit against them with similar theses. However, the regulator stressed that it was a securities fraud.

Thus, the agency classified 9 of the 25 cryptocurrencies that the defendants used in their operations. The list includes Powerledger (POWR), Kromatika (KROM), DFX Finance (DFX), Amp (AMP), Rally (RLY), Rari Governance Token (RGT), DerivaDAO (DDX), LCX and XYO tokens.

“Of these nine tokens, only Amp (AMP) is listed on the Binance.US platform. As a precautionary measure, we have decided to remove the token […],” the branch said.

The exchange has allowed AMP to resume trading when “more clarity emerges” regarding its classification.

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