Binance US will be delisting AMP after SEC claimed it to be 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.”