Share this article

Binance.US to Delist AMP After SEC Claim That the Token Is a Security

The move will be effective as of Aug. 15.

Updated May 11, 2023, 5:34 p.m. Published Aug 1, 2022, 4:43 p.m.

Binance.US will delist the AMP token “out of an abundance of caution” after the U.S. Securities and Exchange Commission alleged AMP was a security last month in its insider-trading case against a former employee of the Coinbase crypto exchange and two of his associates, according to a Binance blog post on Monday. The move will be effective on Aug. 15.

In its suit, the SEC named nine digital assets it claims are securities. Of those nine tokens, only AMP is listed on the Binance.US platform, according to Binance.US.
Binance.US said the trading of AMP may resume in the future on its platform, but noted that “we are taking this step now until more clarity exists around the classification of AMP.”
The price of AMP was down 2.4% over the past 24 hours, according to CoinDesk data.

STORY CONTINUES BELOW

Don't miss another story.Subscribe to the Crypto for Advisors Newsletter today. See all newsletters

By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

Binance US Securities SEC

Nelson Wang

Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.