From 15 August 2022, Binance’s U.S. arm will suspend trading of Amp (AMP). As stated in a company statement.
Earlier, the U.S. Department of Justice announced the arrest of former Coinbase product manager Ishan Wahi and two of his associates on charges of insider-trading fraud.
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against them with similar allegations. However, the regulator stressed that this concerns securities fraud.
Thus, the agency classified nine 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.
“Of these nine tokens, only Amp (AMP) is listed on the Binance.US platform. For precautionary reasons we decided to delist the token […],” they said in the subsidiary.
The exchange said AMP trading could resume when there is greater clarity about its classification.
Earlier, a number of crypto exchanges halted trading of Ripple’s XRP after the SEC’s action. Among them were Bitstamp, Binance.US, Galaxy Digital and Jump Trading. OKCoin and Coinbase removed XRP support for users in all serviced regions.
In July 2022, Roche Freedman LLP lawyers, on behalf of LUNA and TerraUSD investors, filed a class-action lawsuit against Binance’s U.S. unit and CEO Brian Shroder.
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