Binance US, the US arm of Binance, will delist AMP, which the SEC describes as a security.
Binance US, the US arm of the world’s largest cryptocurrency exchange Binance, has announced that it will delist AMP, which the US Securities and Exchange Commission (SEC) describes as a security.
Important notice from #BinanceUS regarding Amp (AMP)
Learn more: https://t.co/b8qaeDEORS pic.twitter.com/vqHdvBVHAw
— Binance.US 🇺🇸 (@BinanceUS) August 1, 2022
In a statement made by Binance US, he emphasized that the exchange always supports transparency while complying with the directives of federal authorities.
Pointing out that they are considering the projects within the scope of the Digital Asset Risk Assessment Framework, the exchange said that the projects should continue to meet the listing standards. He underlined that an in-depth examination has been made for digital assets that no longer meet this potential, and as a result, it has been decided whether to delist.
In the statement, it was also underlined that the listing and delisting processes were carried out in accordance with regulatory developments.
Stating that the SEC has designated nine crypto assets as securities in the Coinbase lawsuit, Binance US stated that out of these nine cryptocurrencies, only AMP is listed on the platform.
Although Binance stated that it will delist AMP as of August 15, 2022, it also pointed out that it can be listed again according to the decision of the regulator.
After Binance US’s announcement, there was a small drop in the asset’s value.
AMP is trading at $0.00906902 at the time of writing.
