HomeCrypto NewsExchangesBinance US Delists Cryptocurrency Declared by the SEC as...

Binance USA delists SEC-declared cryptocurrencies as securities

- Advertisement -

Cryptocurrency exchange Binance US delisted one of the cryptocurrencies that the SEC identified as a security.

The US subsidiary of Binance has announced that it will stop trading for tokens AMP of Flexa after the U.S. Securities and Exchange Commission (SEC) determined it to be a security.

- Advertisement -

“We operate in a rapidly growing industry and our listing processes are designed to respond to market developments.” Binance US said in a blog post Monday.

Exchange says AMP delisting takes effect from 15 date of 8 month. This move comes after the SEC investigated the largest US cryptocurrency exchange Coinbase for allegedly allowing U.S. citizens to trade digital assets that should have been registered as securities.

The SEC believes that Coinbase has listed nine cryptocurrencies are unregistered securities; Out of those nine tokens, only Amp is listed on the Binance.US platform.

SEC Chairman Gary Gensler last week argued that cryptocurrency exchanges should be regulated in a similar way to traditional stock exchanges.

However, Coinbase denied that the exchange listed unregistered securities.

“We are confident that our rigorous process ― the process by which the SEC has reviewed ― removes securities from our platform and we look forward to engaging with the SEC on this matter.” The company's chief legal officer Paul Grewal said.

As of today, Coinbase is still offering AMP trading.


See more:

Rate this post
- Advertisement -

Maybe you are interested

Protocols benefiting from 'the Merge' on Ethereum

The consolidation and upgrade of the mainnet proof-of-work (PoW) of Ethereum and the Beacon Chain proof-of-stake (PoS) is approaching and will be explosive.

What is liquidity? The role of liquidity when choosing a cryptocurrency exchange

To measure the health of the market or a particular coin, you can look at the trading volume...

CoinEx Charity actively supports education with a fund of up to millions of USD

Charity is not only the pursuit of a noble cause but also bringing people happiness from...

Huobi Founder Is Looking To Sell His Shares For $3 Billion

Leon Li could sell his stake in Huobi at a valuation of $2 billion to $3 billion, some...

Game On for GameFi platform supported by Bybit – Yeeha Games

SINGAPORE, 11/8/2022 - Yeeha Games, a $50 million-funded GameFi platform announced its entry into the world of web3 gaming...

Related posts

- Advertisement -