US-based cryptocurrency exchange Binance US says it will remove AMP tokens; Out of extreme caution about the possibility of action against him by federal regulators.
According to CoinTelegraph, Binance US said it will shut down AMP deposits and remove the AMP-dollar trading pair on August 15 after the token was mentioned in a legal action from the US Securities and Exchange Commission (SEC).
The federal regulator filed a complaint against a former Coinbase product manager and two individuals in July alleging that AMB and eight other cryptocurrencies were crypto-asset securities within the SEC's jurisdiction.
Binance US explained: “We believe that, in some circumstances, removing an asset better protects our community from undue risk. We operate in a rapidly evolving industry, and our listings and removals are designed to respond to market and regulatory developments.
According to Binance US, AMB is the only token out of the nine mentioned in the SEC complaint available for trading on the platform.
The exchange added that AMB trading may resume at some point in the future, but did not give a date.
