The exchange said it is carrying out this action “out of an abundance of caution.”
We operate in a rapidly evolving industry, and our listing and delisting processes are designed to be responsive to market and regulatory developments.
The exchange added that the token would remain delisted until “more clarity exists around the classification.”
With the delisting, AMP deposits on Binance.US will close, and the AMP/USD trading pair will also be removed. In addition, it intends to remove all trade orders after trading ceases for the pair.
SEC urges crypto exchanges to operate according to securities law
We have rules in our capital markets to safeguard market integrity & protect against fraud & manipulation. If a company builds a crypto market that protects investors & meets the standard of our market regulations, people will more likely have greater confidence in that market. pic.twitter.com/ZxdBfvmqXP
— Gary Gensler (@GaryGensler) July 28, 2022
Gensler also said the commission was working towards delineating crypto tokens that might be securities.
Meanwhile, AMP’s value has dropped by 9.6% in the last 24 hours and now trades at $0.0824, according to CryptoSlate data.