• May 18, 2024

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Binance.US Will Suspend AMP Token Trading Due to Pressure from SEC

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Binance.US, the US division of crypto exchange Binance, will close trading in the Amp (AMP) token starting August 15.

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

The SEC has filed a lawsuit against them with similar theses. However, the regulator has 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.

According to the trading platform:

“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.”